SIA ends an interesting chapter of its history with redemption of its last remaining MCBs
Among the lessons for market watchers is that investors in the local market are not as apathetic as they are often made out to be
THIS month, on Jun 24, Singapore Airlines (SIA) will redeem the last of the mandatory convertible bonds (MCBs) it issued to ride through the pandemic.
SIA on May 15 said that holders of these remaining MCBs will receive just over S$1.74 billion – 112.616 per cent of the principal amount they stumped up in 2021.
The full gross proceeds SIA received from the issue of these MCBs of S$1.55 billion will be used to fund the redemption.
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