These are entities which announced debt listing confirmations in Singapore on Sunday, 22 May 2022: Modernland Overseas.
Modernland Overseas said Sunday its US$2,371,125 3 percent guaranteed senior payment-in-kid toggle notes due 2027 (ISIN code: XS2421278388) 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$200,000, which is also the minimum board lot size, the company said in a filing to SGX.
Modernland Overseas is a wholly owned subsidiary of Indonesia-based PT Modernland Realty, which develops townships, residential projects and industrial estates and hospitality developments.
In February, Fitch Ratings upgraded PT Modernland Realty to CCC-minus from RD, or restricted default, on the completing of the restructuring of its U.S. dollar notes. The company will be required to complete assets sales, with 75 percent of the proceeds earmarked to redeem the notes, Fitch said in a note.