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SIA may resume dividend payout this fiscal year, redeem 2021 bonds

SIA bond prices climb on redemption news

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Tay Peck Gek

Tay Peck Gek

Published Wed, Oct 26, 2022 · 11:26 AM
    • Singapore Airlines is calling its 2020 MCBs and the airline group is the sponsor of Formula One Singapore Grand Prix.
    • Singapore Airlines is calling its 2020 MCBs and the airline group is the sponsor of Formula One Singapore Grand Prix. PHOTO: BT FILE

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    SINGAPORE Airlines (SIA) could resume its dividend payments for its fiscal year to March 2023, analysts said, following the national carrier’s recent announcement that it intends to redeem its zero-coupon mandatory convertible bonds (MCBs) issued in 2020.

    Analysts at Citi and DBS also expect the airline to redeem the MCBs issued in 2021 before they mature in 2030.

    SIA’s move to redeem the 2020 tranche of MCBs, announced after the market closed on Tuesday (Oct 25), turbocharged the trading prices of both MCB tranches – both gapped up on Wednesday when the market opened.

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