QT Vascular in repayment deal with bondholders

Singapore

QT Vascular has entered into a bond repayment and share issuance deed for the first tranche of the US$13.14 million 8 per cent convertible bonds due 2017/2018. The first tranche of US$5.475 million bonds is due for repayment on Feb 6, 2017.

Under the deed, the bondholders - except for one whose US$0.35 million will be settled in cash - will accept, in lieu of cash repayment, the allotment and issue of an aggregate 108.07 million new ordinary shares in the capital of the company at an issue price of S$0.06876 per share.