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Interplex prepares to redeem notes if takeover becomes unconditional

INTERPLEX Holdings, a precision engineering firm that Baring Private Equity Asia is offering to buy for S$450 million, is seeking the consent of its bondholders to include a call option in the notes due 2019.

If this is approved, and the takeover offer becomes unconditional, the firm may redeem the notes at 102 per cent of the principal amount with the interest accrued.

DBS Bank and Standard Chartered are the joint solicitation agents appointed.

Interplex Holdings, formerly known as Amtek Engineering, is majority owned by CVC Capital Partners-backed Metcomp Group Holdings and the private equity arm of StanChart. Both have said they would accept the offer by Baring.

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