Partial Redemption with reduction of nominal value::Mandatory

Issuer & Security

Issuer/ Manager
ASL MARINE HOLDINGS LTD.
Security
ASL MARINE HOLDINGS LTD - SG1N25909283 - A04

Announcement Details

Announcement Title
Partial Redemption with reduction of nominal value
Date &Time of Broadcast
17-Mar-2020 18:50:35
Status
New
Corporate Action Reference
SG200317PCALVVFX
Submitted By (Co./ Ind. Name)
Koh Kai Kheng Irene
Designation
Group Financial Controller
Original Maturity Date
01/10/2026

Event Narrative

Narrative Type
Narrative Text
Additional TextPlease refer to the attachment - Base Mandatory Redemption relating to the Series 007 S$50,000,000 5.35 per cent. Notes due 2018 (ISIN: SG6TC3000008)
Additional TextThe Board of Directors (the Board) of ASL Marine Holdings Ltd. (the Company) refers to the trust deed dated 7 May 2008, as amended and restated by the amendment and restatement trust deed dated 31 March 2014, and as further amended and restated by the second amendment and restatement trust deed dated 31 January 2017,
Additional Textand as further amended and supplemented by the supplemental trust deed dated 1 February 2019, in each case between the Company, as issuer, and the Trustee, as trustee (the Trust Deed).
Additional TextCapitalised terms used but not defined in this Announcement shall have the meanings ascribed to such terms in the Trust Deed (as amended from time to time) relating to the Notes.
Additional TextPursuant to Condition 6(I) of the Notes, the Company is redeeming S$250,000 of the outstanding principal amount of the Notes on a pro rata basis, together with interest accrued, but unpaid, on the amount to be redeemed up to and excluding the date fixed for redemption, on 1 April 2020 (the Redemption Date).
Additional TextThe Company is providing the following additional information in relation to such redemption:
Additional Text(a) immediately prior to the redemption referred to above, (i) the outstanding principal amount of each S$250,000 Denomination Amount of Notes is S$228,750 and (ii) the number of S$250,000 Denomination Amount of Notes outstanding is 200;

(b) the amount to be redeemed for each S$250,000 Denomination Amount of Notes is S$1,250;
Additional Text(c) the outstanding principal amount of each S$250,000 Denomination Amount of Notes after such partial redemption is S$227,500;

(d) the record date for the purposes of the redemption shall be 25 March 2020; and
Additional Text(e) trading and transfers of the Notes will be suspended from the record date until such time the redemption is effected by the Depository and the Notes being redeemed shall be debited from the Depository securities account or sub-account of the relevant holder of such Notes on the Redemption Date.

Event Dates

Record Date and Time
25/03/2020 17:00:00

Disbursement Details

Existing Security Details
Cash Payment Details
Redemption Rate (%)
0.5464481
Pay Date
01/04/2020
Outstanding Securities Redeemed (%)
0.5464481

Attachments