This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
SPH Launches Consent Solicitation on SGD 2030s
October 26, 2021
Singapore Press Holdings (SPH) has launched a consent solicitation on its S$500mn 3.2% bonds due 2030 to amend certain terms. The amendments are related to the proposed S$2.2bn acquisition by Keppel, which will be buying all of SPH’s shares after its loss-making media business is carved out. Thereafter, Keppel plans to delist SPH and take it private, IFR notes. SPH seeks to waive any event of default, to include a guarantee from Keppel Land for its obligations under the notes and waive any non-compliance with terms resulting from the media business carve out, among other things. Bondholders that give their consent by November 12 will receive an early consent fee of 0.25% or S$625 per S$250,000 in principal. SPH also has outstanding SGD 4.5% and 4% perps callable in 2024 and 2025 respectively, which the company said that it will not be redeeming on delisting. Instead, it will increase the coupons on both the perps by 1% after delisting, as per IFR.
SPH’s SGD 3.2% 2030s traded 0.05 points lower to 100.31 yielding 3.16%.
Go back to Latest bond Market News
Related Posts:
SPH Reports Earnings, Announces Strategic Review
March 31, 2021
SPH Reports Fall in Revenues
July 20, 2021
SPH Rebounds with $92.9mn in Net Profits in 2021
October 6, 2021
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.