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Singapore Medical to Accept Bids Worth SG$31.5 Million for 3.54% Notes

MT Newswires08-28

Singapore Medical Group (SGX:5OT) said it will accept SG$31.5 million in aggregate principal amount of its 3.54% notes due 2029 for purchase, following an invitation to noteholders to sell the debt securities for cash, according to a Friday filing to the Singapore stock exchange.

The company received valid offers to sell SG$64 million of the SG$90 million outstanding notes by the Aug. 26 expiration deadline, exceeding its maximum acceptance amount of SG$31.5 million.

Settlement is scheduled to take place on Aug. 31, when the noteholders whose securities are accepted will receive SG$262,125 for each S$250,000 of notes, along with accrued interest from May 20 through the day before settlement.

On completion of the settlement, SG$58.5 million of the notes will remain outstanding, the statement said.

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