Singapore debt listings Friday: Pearl Holding III

U.S. one-dollar currency notes; taken September 2018.U.S. one-dollar currency notes; taken September 2018.

These are entities which announced debt listing confirmations in Singapore on Friday, 22 October 2021: Pearl Holding III.

Pearl Holding III

Pearl Holding III said Friday its US$66.5 million 9 percent senior secured notes due 2025 (ISIN code: XS2390402175 and XS2390402092) would be listed on SGX’s bond market on Monday.

The notes, which will trade in U.S. dollars, will be in denomination of US$50,000, with a minimum board lot size of US$200,000, the entity said in a filing to SGX.

No information on managers or bookrunners was provided.

China-based Pearl Holding III manufactures and distributes plastic injection molds, according to Cbonds, which said the company defaulted on its bonds in 2021. The entity is an indirectly wholly owned subsidiary of Platinum Equity, a U.S. based private equity firm, according to Moody’s.

According to Smartkarma, Pearl Holding III acts as a special purpose entity for the purpose of issuing debt securities to repay existing credit facilities, refinance indebtedness and for acquisition purposes.

 

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