CHIPEN 6.500% 06Dec2024 Corp (SGD)

Bond Factsheet

Matured/ Called

CES Treasury Pte Ltd

Indicative

Full Lot

Bid Price

100.150

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.300

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 06 Dec 2024, 12:00am

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Bond Information

CES Treasury Pte. Ltd. provides financial services. The Company serves customers in Singapore.

Bond Issuer

CES Treasury Pte Ltd

Guarantor

Chip Eng Seng Corporation Ltd.

Announcement Date

30 Nov 2021

Issue Date

06 Dec 2021

Maturity Date

06 Dec 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.500

Coupon Type

Fixed

Annual Coupon Rate

6.500

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SGXF86596040

CUSIP

BS7198044

Bond Currency

SGD

Total Issue Size

120,000,000

Outstanding Issue Size

87,250,000

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)

Change Control Put

If, for any reason, a Change of Control occurs, the relevant Issuer shall promptly give to the Trustee, the Issuing and Paying Agent and the Agent Bank notice of the occurrence of a Change of Control and shall, within seven days of such occurrence give notice to the Noteholders of the occurrence of such event (the “Notice”) (provided that any failure by the relevant Issuer to give such notice shall not prejudice any Noteholder of such option) 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).

For the purposes of this Condition 6(e)(ii):

(1) a “Change of Control” means (A) a change in shareholding of CESC on any date which results in Mr Gordon Tang @ Tang Yigang @ Gordon Tang and Mrs Celine Tang @ Chen Huaidan @ Celine Tang and their respective Immediate Family Members (together, the “Controlling Shareholders”) ceasing to collectively own in aggregate direct or deemed interest of at least 20 per cent. of the issued share capital for the time being of CESC, and/or (B) any person or persons acting in concert (other than the Controlling Shareholders) acquiring ownership of direct or deemed interest of 30 per cent. or more in aggregate of the issued share capital for the time being of CESC; and

(2) “Immediate Family Members” means, in respect of a person, the spouse, parents, children and siblings of such person.

Cessation Put

In the event that (1) the shares of CESC cease to be traded on the SGX-ST or (2) trading in the shares of CESC on the SGX-ST is suspended for a continuous period of more than seven days (other than by reason of holiday, statutory or otherwise), the relevant Issuer shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount, together with interest accrued to 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 45 days after (in the case of (1)) the date of cessation of trading or (in the case of (2)) the business day immediately following the expiry of such continuous period of seven days (in either case, the “Effective Date”).

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

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