UPDATE: Singapore debt listings Thursday: Jain International Trading

Watermelon at a fruit stand in Singapore’s Geylang neighbourhood; taken September 2021Watermelon at a fruit stand in Singapore’s Geylang neighbourhood; taken September 2021

These are entities which announced debt listing confirmations in Singapore on Thursday, 30 September 2021: Jain International Trading.

This item was originally published on Thursday, 30 September 2021 at 18:19 SGT; it has since been updated with comments from Jain International Trading.

Jain International Trading

Jain International Trading said Thursday its US$85.105 million 7.125 percent new senior step-up call exchange notes due 2026 (ISIN code XS2377357491) will be listed on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1,000 with a minimum board lot size of US$200,000, Jain International Trading said in a filing to SGX.

Information on the lead managers and bookrunners wasn’t provided in the filing.

Jain International Trading is a special purpose entity created to issue debt securities for India-based Jain Irrigation Systems, also known as Jains, which manufactures precision irrigation products and plastic pipes as well as engaging in research and development for agricultural projects. Other businesses include solar water heaters, solar water pumps and photovoltaic panels, as well as processing tropical fruit.

The bond issuance follows Jain Irrigation’s 2020 default on US$200 million of notes maturing in 2022. Earlier this year, the company entered a restructuring deal for the notes which included arranging fresh capital to meet working capital needs.

Under the deal, noteholders were offered the opportunity to participate in a new US$30 million first lien facility, exchange their existing notes for three series of new notes or tender their notes for cash, Jain International Trading said in a separate statement filed to SGX.

Jain International Trading

Jain International Trading said Thursday its US$60 million 7.125 percent new second lien exchange notes due 2026 (ISIN code XS2377356253) would be listed on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1,000 with a minimum board lot size of US$200,000, Jain International Trading said in a filing to SGX.

Information on the lead managers and bookrunners wasn’t provided in the filing.

Jain International Trading

Jain International Trading said Thursday its US$48 million 7.125 percent new senior discount call exchange notes due 2026 (ISN code XS2377357228) would be listed on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1,000 with a minimum board lot size of US$200,000, Jain International Trading said in a filing to SGX.

Information on the lead managers and bookrunners wasn’t provided in the filing.