Tuan Sing accepts tenders for S$58.25 million of 6.9% notes due 2024

By Marisa Wong

Los Angeles, Nov. 17 – Singapore’s Tuan Sing Holdings Ltd. announced results of its Nov. 4 invitation to holders of its S$200 million outstanding 6.9% series 004 notes due Oct. 18, 2024 (ISIN: SGXF30090785) to offer to sell for cash some or all of their notes, up to a maximum acceptance amount of S$75 million.

The issuer has accepted for purchase S$58.25 million of the notes, according to a notice on Thursday.

The invitation expired at 10 p.m. ET on Nov. 16. The company said it does not intend to extend the expiration time or to reopen the invitation.

The issuer is offering to purchase the notes at 101 plus accrued interest.

Settlement is slated for Nov. 18.

After settlement, there will be S$141.75 million of the notes outstanding.

DBS Bank Ltd. is the dealer manager.

Tricor Barbinder Share Registration Services (+65 6236 3550 / 3555; is.corporateactions@sg.tricorglobal.com) is the tender agent.

Tuan Sing is a Singapore-based investment holding company with interests mainly in property development, property investment and hotel ownership.

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