Sembcorp Industries to redeem S$200m in 3.7% perpetual securities on June 22

MAINBOARD-LISTED Sembcorp Industries is redeeming a S$200 million tranche of perpetual securities at its first call date, the utilities group said in a bourse filing on Friday.

All of the 3.7 per cent subordinated perpetual securities, which came in minimum trading lots of S$250,000, will be redeemed and then cancelled on June 22.

The perpetual securities were issued in 2017 under a S$2.5 billion multi-currency debt programme. Sembcorp last month also announced plans to redeem a S$600 million tranche of 4.75 per cent perpetual securities, issued under the same debt scheme, at the first call date of May 20.

That news came on the heels of a fresh S$3 billion multi-currency debt programme that Sembcorp established on April 3 to fund its general corporate working capital needs.

Sembcorp shed S$0.03, or 1.96 per cent, to S$1.50 on a cum-dividend basis on Friday, before the latest announcement.