SINGAPORE-LISTED Aspial Corporation said on Thursday it has decided to re-allocate S$25 million in bonds offered to the public to its placement to institutional and other investors. As a result, S$50 million is now offered under the placement and S$25 million to the public.

Aspial, whose business portfolio spans real estate, jewellery and financial services, had on Tuesday announced an offering comprising a public tranche of up to S$50 million to the Singapore public and a placement tranche of up to S$25 million to institutional and other investors outside the United States.

These are five-year bonds due in 2020, which come with fixed interest of 5.25 per cent per annum.

The reason for the re-allocation is that the valid applications for its bond placement have exceeded S$25 million. It is about three times subscribed and was officially closed at 7.30pm on Wednesday. Valid applications of S$50 million at the issue price of 100 per cent were accepted.

The public offer remains open until 12 noon on Aug 26.

The public can apply for the bonds through the ATMs of DBS Bank (including POSB), OCBC Bank and UOB Group, as well as the Internet banking websites of these banks, or the mobile banking interface of DBS which is the sole lead manager and bookrunner for the bond offer.