mm2 Asia Ltd
Indicative
Full Lot
Indicative price as of 07 May 2021, 12:00am
Bond Issuer
mm2 Asia Ltd
Guarantor
Subsidiaries
Announcement Date
20 Apr 2018
Issue Date
27 Apr 2018
Maturity Date
27 Apr 2021
Years to Maturity / Next Call
- / -
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
7.000
Coupon Type
Fixed
Annual Coupon Rate
7.000
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
SG7PB4000005
CUSIP
AR7558349
Bond Currency
SGD
Total Issue Size
-
Outstanding Issue Size
50,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
High Yield Corporate
Bond Sector
Consumer Discretionary
Bond Sub Sector
Leisure Products
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
SGX
(ii) in the case of a redemption of any Notes on the First Call Date (27 April 2020) and any Business Day occurring after the First Call Date, such Notes will be redeemed at 103.5% (in whole or in part), in each case, together with accrued and unpaid interest to (but excluding) the date fixed for redemption.
The Issuer may, on giving not less than 30 nor more than 60 days' irrevocable notice to the Noteholders, redeem the Notes on any Business Day provided that the Issuer has appointed a Calculation Agent prior to
giving such notice, and provided further that:
(i) in the case of a redemption of any Notes on any Business Day that is prior to 27 April 2020 (the "First Call Date"), such Notes
will be redeemed at the Make Whole Amount (in whole but not in part); and
The "Make Whole Amount" means an amount equal to the greater of:
(i) an amount equal to the sum of:
- (A) the present value of the principal amount of the Notes discounted from the First Call Date; and
- (B) the present value of the remaining
scheduled interest payments due on such
Notes to and including the First Call Date.
The expression "present value" in (A) and (B) above to be calculated by discounting the relevant amounts to the date of redemption of the Notes at the rate equal to the sum of
- (1) the closing Singapore dollar swap offer rate appearing on (in the case of Singapore dollar swap offer rates corresponding to durations of less than one year) Reuters
Screen ABSIRFIX01 Page under the caption "SGD SOR rates as of 11:00hrs London Time" under the column headed "SGD SOR"
(or its replacement page) and (in the case of Singapore dollar swap offer rates corresponding to durations of one year and
above) Bloomberg Screen TPIS37 Tullet Prebon Asia Page at 18:00hrs Singapore time under the column headed "Ask" (or its
replacement page) corresponding to the duration of the remaining period to the First Call Date of the Notes expressed on a semiannual
compounding basis (rounded up, if necessary, to four decimal places) on the eighth business day prior to the date of
redemption of the Notes, provided that if there is no rate corresponding to the relevant period, the swap offer rate used will be the
interpolated interest rate as calculated using the swap offer rates for the two periods most closely approximating the duration of the remaining period to the First Call Date and
- (2) 0.50 per cent. ; and
- (1) the closing Singapore dollar swap offer rate appearing on (in the case of Singapore dollar swap offer rates corresponding to durations of less than one year) Reuters
Screen ABSIRFIX01 Page under the caption "SGD SOR rates as of 11:00hrs London Time" under the column headed "SGD SOR"
(or its replacement page) and (in the case of Singapore dollar swap offer rates corresponding to durations of one year and
above) Bloomberg Screen TPIS37 Tullet Prebon Asia Page at 18:00hrs Singapore time under the column headed "Ask" (or its
replacement page) corresponding to the duration of the remaining period to the First Call Date of the Notes expressed on a semiannual
compounding basis (rounded up, if necessary, to four decimal places) on the eighth business day prior to the date of
redemption of the Notes, provided that if there is no rate corresponding to the relevant period, the swap offer rate used will be the
interpolated interest rate as calculated using the swap offer rates for the two periods most closely approximating the duration of the remaining period to the First Call Date and
(ii) the Calculation Amount.
"Change of Control" means the occurrence of one or more of the following events:
(a) the sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person; or
(b) the consummation of any transaction (including, without limitation, any merger or consolidation), the result of which is that:
(i) the Permitted Holders cease to own, collectively, directly or indirectly, at least 20% of the Voting Stock of the Issuer (measured by voting power rather than number of shares);
(ii) individuals who on the Original Issue Date constituted the Board of Directors of the Issuer (together with any new directors whose election by such Board of Directors or whose nomination for election by the shareholders of the Issuer was approved by a vote of a majority of the directors of the Issuer then still in office who were either directors on the Original Issue Date or whose election or nomination for election was previously so approved or who were elected with the consent of the Permitted Holders) cease for any reason to constitute a majority of the Board of Directors of the Issuer then in office, provided that no retirement or disqualification of a director by reason of the operation of law or the application of listing or corporate governance rules shall be taken into account in determining the majority of the Board of Directors for this purpose; or
(iii) any Person, other than the Permitted Holders, becomes the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of the Issuer;
