Malaysia’s Serba Dinamik begins tender offer for up to $100 million sukuk in two series

By Rebecca Melvin

New York, Oct. 9 – Serba Dinamik International Ltd. announced an offering to repurchase up to $100 million principal amount of trust certificates in two series, which are guaranteed by Serba Dinamik Holdings Bhd., according to an announcement on Friday.

Holders of the company’s $300 million trust certificates due 2022 (ISIN: XS1900582476) and $200 million trust certificates due 2025 (ISIN: XS2089155761) are invited to tender their securities, issued by SD International Sukuk Ltd. and SD International Sukuk II Ltd., respectively.

The minimum purchase price for the 2022 sukuk is $910 per $1,000 principal amount, and the minimum purchase price for the 2025 sukuk is $830 per $1,000 of securities.

The allocation of funds between each series purchased will be determined by the offeror and announced after the tender offer expiration deadline at 11 a.m. ET on Oct. 16.

Results will be announced on Oct. 19, and settlement is expected to occur by Oct. 28.

HSBC Singapore Branch (+852 3941 0223; +44 20 7992 6237; liability.management@hsbcib.com) and Standard Chartered Bank (Singapore) Ltd. (Fax: +65 6535 1931; liability_management@sc.com) are dealer managers of the offers.

Morrow Sodali Ltd. (serbadk@investor.morrowsodali.com) is the information agent.

Serba Dinamik is a Malaysia-based oil, gas and power information technology and services company.

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