OUE invited holders of its S$150 million 3.00 percent exchangeable bonds due 2023 to tender the securities to be purchased in cash, conditional on bondholders’ approval of the proposal, the property company said in a filing to SGX Tuesday.
The early redemption will be for 100 percent of the principal amount, plus accrued and unpaid interest, OUE said.
To participate in the offer, bondholders of a minimum principal amount of S$250,000 must tender their bonds by 11 June, and that will be deemed a vote in favor of the resolution to approve the proposal, OUE said.
The meeting to approve the extraordinary resolution to implement the proposed bond purchase will be held in Hong Kong on 26 June, the filing said. If passed, the resolution will be binding on all bondholders, whether or not they voted in favor, OUE said.
The bonds are exchangeable into OUE Hospitality Trust units, it said.
OUE has appointed HSBC Singapore branch as the dealer manager and D.F. King as tender and tabulation agent for the offer and proposal, the filing said.
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