Vallianz defers distribution for US$22.5m perps
Singapore
OFFSHORE support-vessel owner and operator Vallianz Holding has exercised its rights to defer a payment of distribution to perpetual securities holders originally due on Tuesday.
The firm had issued US$22.5 million worth of senior perpetual securities, carrying a 4 per cent coupon, as part of its S$500 million multi-currency debt-issuance programme.
In a bourse filing on Tuesday, it said the deferment of distribution had been on the basis that in the preceding 12 months, no dividend, distribution or other payment has been paid or declared by the firm on or in respect of any of its junior obligations.
Also, none of the firm's junior obligations has been redeemed, reduced, cancelled, bought back or acquired for any consideration by the firm.
Shares of Vallianz last traded at 4.8 Singapore cents on Dec 29, 2020.
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