Sembcorp Industries to redeem S$200m of 5% perpetual securities at par
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Nisha Ramchandani
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SEMBCORP Industries is redeeming S$200 million of 5 per cent subordinated perpetual securities that were issued under its S$2.5 billion multicurrency debt issuance programme, the industrial conglomerate announced on Friday before the market opened.
In a filing to the Singapore Exchange on Friday morning, Sembcorp said that it is electing to redeem all the perpetual securities at 100 per cent of the principal amount on Aug 21, 2018, which is the first call date. Upon redemption, the securities will be cancelled and delisted from the Singapore Exchange.
The perpetual securities were issued in 2013.
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