General Announcement::Notice of Redemption

Issuer & Securities

Issuer/ Manager
VLL INTERNATIONAL, INC
Securities
VLL INTL US$100M6.75%N181004 - XS0974154477 - 2E8B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
21-Nov-2017 08:33:11
Status
New
Announcement Sub Title
Notice of Redemption
Announcement Reference
SG171121OTHRI8X6
Submitted By (Co./ Ind. Name)
Kelly Teoh
Designation
Associate
Description (Please provide a detailed description of the event in the box below)
Notice is hereby given to the holders of the 2018 Notes (the Noteholders).

Reference is made to the trust deed dated 4 October 2013, as amended and/or supplemented from time to time (the Trust Deed) between VLL International, Inc. (the Issuer), Vista Land & Lifescapes, Inc. (the Company), the subsidiary guarantors named therein, and Citicorp International Limited (the Trustee) in respect of the 2018 Notes. Capitalised terms not otherwise defined herein shall have the meaning given to such terms in the Trust Deed.

Pursuant to Condition 7.5 (Make Whole Redemption) of the Terms and Conditions of the 2018 Notes as set out in Schedule 2 of the Trust Deed, the Issuer has elected to redeem and pay, and will redeem and pay, on 21 December 2017 (the Make Whole Redemption Date), all of its outstanding 2018 Notes (other than the Tendered Notes (as defined below)) (the 2018 Redeemed Notes) at a redemption price (the 2018 Notes Make Whole Redemption Price) equal to:

1. 100.0% of the principal amount outstanding of all 2018 Redeemed Notes; plus

2. accrued and unpaid interest from 4 October 2017 to the Make Whole Redemption Date; plus

3. the Applicable Premium.

In addition, on 29 November 2017, the Issuer will purchase all 2018 Notes that were validly tendered by Noteholders (the Tendered Notes ) as part of the tender offer being conducted pursuant to the Tender Offer Memorandum, dated 10 November 2017, issued by the Issuer, pursuant to the terms set out therein.

Unless the Issuer defaults in paying the 2018 Notes Make Whole Redemption Price, interest on the 2018 Redeemed Notes shall cease to accrue on and after the Make Whole Redemption Date, and the only remaining right of the Noteholders is to receive payment of the 2018 Notes Make Whole Redemption Price upon surrender of such 2018 Redeemed Notes to Citibank, N.A., London Branch as paying agent, in accordance with terms of the Trust Deed.

No representation is made as to, and the Issuer, the Company, each Subsidiary Guarantor, the Trustee and the Paying Agent are not responsible for, the correctness or accuracy of the ISIN or Common Code listed in this Notice of Redemption or printed on the 2018 Notes.

The 2018 Notes are issued in global form and should be surrendered for redemption in accordance with the procedures of Euroclear and Clearstream, Luxembourg.

Attachments

VLL International - Notice of Redemption - 2018 Notes.pdf
Total size =16K