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Singapore’s Banyan Tree appoints new arrangers for debt program
By Wendy Van Sickle
Columbus, Ohio, March 19 – Banyan Tree Holdings Ltd. made some changes to its S$700 million multicurrency debt program, according to a notice.
Hongkong and Shanghai Banking Corp. Ltd. has retired as the arranger and dealer and Credit Suisse (Singapore) Ltd. and Maybank Kim Eng Securities Pte. Ltd. have been appointed as incoming arrangers and dealers
The company also made some changes to the trust deed that will apply only to securities listed under the program after the effective date, March 19.
Banyan Tree will no longer be obliged to provide quarterly accounts to the trustee and to maintain listing of its shares on Singapore Exchange Securities Trading Ltd. The amendments also allow for the flexibility of including a delisting put option for the notes issued under the program and a delisting call option for the perpetual securities issued under the program.
Banyan Tree is a Singapore-based manager and developer of premium resorts, hotels and spas in the Asia Pacific.
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