Debt - Change of Terms::APPROVAL FOR THE AMENDMENTS TO THE TERMS AND EARLY PARTIAL REDEMPTION OF THE CONVERTIBLE NOTES

Issuer & Securities

Issuer/ Manager
HYDOO INTERNATIONAL HOLDING LIMITED
Securities
HYDOO INT US$100M13.75%N181215 - XS1332095659 - 38QB
Stapled Security
No

Announcement Details

Announcement Title
Debt - Change of Terms
Date &Time of Broadcast
15-Jan-2016 09:34:12
Status
New
Announcement Sub Title
APPROVAL FOR THE AMENDMENTS TO THE TERMS AND EARLY PARTIAL REDEMPTION OF THE CONVERTIBLE NOTES
Announcement Reference
SG160115OTHRCREA
Submitted By (Co./ Ind. Name)
Issuer Services
Designation
SGX-ST
Description (Please provide a detailed description of the change in the box below)
The Board announces that the Stock Exchange has issued the approval for the Amendments under the First Amendments to Indenture under Rule 28.05 of the Listing Rules on January 13, 2016 and the Amendments became effective accordingly.
On January 14, 2016, the Sole Noteholder has delivered a notice of exercise which requires the Company to redeem on January 15, 2016 an aggregate principal amount of US$40,000,000 of the outstanding Convertible Notes at the Early Redemption Amount (being an aggregate amount of approximately US$43,594,100) (the 'Early Redemption'). The portion of the Convertible Notes redeemed will be cancelled. As at the date of this announcement, the total outstanding principal amount under the Convertible Notes is US$120,000,000. Following the Early Redemption, the total outstanding principal amount under the Convertible Notes will be US$80,000,000. The Early Redemption will be settled in cash from the internal resources of the Company.

Additional Details

Asset Class
Convertible Bonds

Attachments

E HYDOO.pdf
Total size =45K

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