Halcyon Agri to redeem 4.5% perps on April 26, averting 500bps step-up
Add BT as a preferred source
Claudia Chong
DeeperDive is a beta AI feature. Refer to full articles for the facts.
RUBBER supplier Halcyon Agri said on Monday that it will redeem all US$150 million of its 4.5 per cent senior perpetual securities on April 26, 2019.
The distribution rate of the perps, which will be redeemed at 100 per cent of the principal amount plus accrued distributions, are set to step up by 500 basis points in April if they are not redeemed. The securities were issued in 2017 under Halcyon Agri's US$1 billion multicurrency debt issuance programme.
Halcyon Agri shares were trading at 44 Singapore cents as at 10.54am on Monday after the announcement.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
