TSHSP 6.900% 18Oct2024 Corp (SGD)

Bond Factsheet

Matured/ Called

Tuan Sing Holdings Ltd

Indicative

Full Lot

Bid Price

100.057

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.496

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 18 Oct 2024, 12:00am

chevron_leftchevron_right

Bond Information

Tuan Sing Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides property development, property investment, and hotel ownership. Tuan Sing Holdings serves clients Singapore, China, Indonesia, and Australia.

Bond Issuer

Tuan Sing Holdings Ltd

Guarantor

Announcement Date

11 Oct 2021

Issue Date

18 Oct 2021

Maturity Date

18 Oct 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.900

Coupon Type

Fixed

Annual Coupon Rate

6.900

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SGXF30090785

CUSIP

BR9002154

Bond Currency

SGD

Total Issue Size

200,000,000

Outstanding Issue Size

34,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Management and Development

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Issuer Call

Callable at 102%, callable (in whole and not in part) at any time on or after 18 October 2023.

Change Control Put

If, for any reason, a Change of Shareholding Event occurs, the Issuer will within seven days of such occurrence give notice to the Noteholders of the occurrence of such event (the “Notice”) and shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount, together with interest accrued to (but excluding) the date fixed for redemption, on the date falling 60 days from the date of the Notice (or if such date is not a business day, on the next day which is a business day). To exercise such option, the holder must deposit such Note (together with all unmatured Coupons) with the Issuing and Paying Agent at its specified office, together with a duly completed option exercise notice in the form obtainable from the Issuing and Paying Agent or the Issuer (as applicable), no later than 30 days from the date of the Notice. Any Note so deposited may not be withdrawn (except as provided in the Agency Agreement) without the prior consent of the Issuer.

For the purposes of this Condition 5(e)(ii):

(1) a “Change of Shareholding Event” occurs when Ms Michelle Liem Mei Fung, Mr William Nursalim alias William Liem and Mr Tan Enk Ee and their respective Immediate Family Members cease to own in aggregate (whether directly or indirectly) at least 40 per cent. of the issued share capital of the Issuer; and

(2) “Immediate Family Members” means the father, mother, siblings, spouse, son(s) and daughter(s).

Cessation Put

In the event that (a) the shares of the Issuer cease to be traded on the SGX-ST or (b) trading in the shares of the Issuer on the SGX-ST is suspended for a continuous period of more than 14 days (other than by reason of holiday, statutory or otherwise), the Issuer shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount together with interest accrued to (but excluding) the date fixed for redemption on any date on which interest is due to be paid on such Notes or, if earlier, the date falling 30 days after (in the case of (a)) the date of cessation of trading or (in the case of (b)) the business day immediately following the expiry of such continuous period of 14 days (in either case, the “Effective Date”).

The Issuer shall within seven days after the Effective Date, give notice to the Trustee, the Issuing and Paying Agent and the Noteholders of the occurrence of the event specified in this paragraph (iii) (provided that any failure by the Issuer to give such notice shall not prejudice any Noteholder of such option). To exercise such option, the holder must deposit such Note (together with all unmatured Coupons) with the Issuing and Paying Agent at its specified office, together with an Exercise Notice in the form obtainable from the Issuing and Paying Agent or the Issuer (as applicable) not later than 21 days after the Effective Date. Any Note so deposited may not be withdrawn (except as provided in the Agency Agreement) without the prior consent of the Issuer.

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.