trending Market Intelligence /marketintelligence/en/news-insights/trending/eilg4svor1e-uozdx_bb0a2 content esgSubNav
In This List

OUE prices S$304.8M offering of convertible, exchangeable bonds

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


OUE prices S$304.8M offering of convertible, exchangeable bonds

OUE Ltd. priced a concurrent offering of roughly S$154.8 million of 1.50% convertible bonds and S$150.0 million of 3.00% exchangeable bonds.

The initial conversion price for the convertible bonds was set at S$2.112 apiece, and the bonds are convertible for shares at any time on or after May 24. The bonds may also be redeemed at 105.29% of its principal amount when they mature.

For the exchangeable bonds, the initial exchange price is 95.7 Singapore cents per stapled security, and may be exchanged May 24 or thereafter. OUE also has the option to redeem the bonds when they mature at 100% of the principal amount.

According to the Singapore-based diversified developer, both bonds will be issued April 13 and are due April 13, 2023. The bonds will also be issued at 100% of the principal amount and the interest on them are payable every April 13 and Oct. 13 of each year, starting in October.

The Singapore branch of The Hongkong and Shanghai Banking Corp. Ltd. is the sole book runner for the two offerings.

As of March 13, US$1 was equivalent to S$1.31.