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Singapore’s Oxley announces results of exchange offer for 2024 notes
Chicago, March 22 – Oxley MTN Pte. Ltd. announced the results of its exchange offer relating to its S$195 million of 6.9% notes due July 8, 2024 (ISIN: SGXF85882482) guaranteed by Oxley Holdings Ltd., according to a notice.
Noteholders tendered S$62.25 million of their notes in the offer.
In a follow-up announcement, the company noted that the final tally was actually S$62 million after a noteholder was deemed ineligible.
As previously reported, the company was offering a like principal amount of Singapore dollar-denominated fixed-rate notes due 2025.
The new notes, to be issued at par, carry a coupon of 7¼% and mature on July 28, 2025. Oxley Holdings will also be the guarantor of the new notes.
The offer expired at 11 p.m. ET on March 20.
The company priced an additional S$26 million of the new notes due 2025. The exchange notes and the additional notes are fungible.
Settlement is slated for March 28.
DBS Bank Ltd. and Deutsche Bank AG, Singapore Branch are dealer managers for the exchange offer.
Tricor Singapore Pte. Ltd. (+65 6236 3550 / 3555; is.corporateactions@sg.tricorglobal.com) is the exchange agent.
Oxley is a property developer based in Singapore.
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