Corporate digest

Rex International

REX International said the senior secured bond, worth 500 million Norwegian kroner (S$78.9 million), of its 90 per cent-owned subsidiary Lime Petroleum has been fully subscribed. The 2.5-year bond, with a maturity date of Jan 9, 2024, is a condition precedent for Lime Petroleum's acquisition of Brage field in Norway.

The group expects the bond to be listed on the Oslo Børs within six months, with a coupon rate of three months Norwegian Interbank Offered Rate plus 8.25 per cent. The settlement date for the bonds is expected to be July 9, 2021.

Heeton Holdings

Heeton Holdings, together with KSH Holdings and Ho Lee Group, have refurbished and rebranded a London property, the DoubleTree by Hilton London Kensington, under a franchise agreement with Hilton. Acquired by the consortium in 2019, the property was previously known as the Crowne Plaza London Kensington. The hotel is managed by Heeton's UK-based subsidiary, Heeton SG50.