Prunelli extends maturity for $1.45 billion compartment 2020-1

By William Gullotti

Buffalo, N.Y., Aug. 24 – Prunelli Issuer I SARL will extend the final maturity for its $1.45 billion Regulation S series 2020-1 global notes due April 15, 2024 (ISIN: XS2244965245), according to a notice on Thursday.

The notes were issued on Oct. 16, 2020, initially due April 15, 2022 and included the option for three one-year extensions.

The notice indicated that the upcoming extension marks the third and final exercise of the option, which was requested by noteholders prior to the option deadline.

The extension period margin was set at 117 basis points, with none of the extending noteholders exercising the accompanying call option.

The extension process is expected to be completed by Oct. 15 and will extend the final maturity to April 15, 2025.

Standard Chartered Bank (Singapore) Ltd., Standard Chartered Bank (Hong Kong) Ltd. and Standard Chartered Bank are the originators.

Privately registered in Luxembourg, Prunelli acts as an acquiring entity and/or issuer for securitization transactions.

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