Hyflux Ltd
Indicative
Full Lot
Indicative price as of 23 May 2023, 12:00am
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
Hyflux Ltd
Guarantor
-
Announcement Date
17 May 2016
Issue Date
27 May 2016
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.647
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.000
Coupon Type
Variable
Annual Coupon Rate
6.62125
Coupon Frequency
Semi Annually
Seniority
Junior Subordinated
Reference Rate
Reset Rate= 4Y SGD SOR + Initial Margin (4.2%) + Step-up (2%)
Reset Date=27May2020 & every 4y thereafter
Accrued Interest
Trading without
ISIN
SG31B4000005
CUSIP
LW1439220
Bond Currency
SGD
Total Issue Size
500,000,000
Min. Investment Quantity (Nominal)
SGD 1,000
Incremental Quantity (Nominal)
SGD 1,000
Bond Type
High Yield Corporate
Bond Sector
Utilities
Bond Sub Sector
Water Utilities
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
SGX
- Optional Payment
- The Issuer may, at its sole discretion, elect not to pay a distribution (or to pay only part of a distribution) which is scheduled to be paid on a Distribution Payment Date by giving notice (an "Optional Payment Notice") to the Trustee, the Paying Agent and the Securityholders (in accordance with Condition 14) not more than 20 nor less than five business days prior to a scheduled Distribution Payment Date.
- Dividend Pusher
- The Issuer may not elect to defer any distribution if during the six-month period ending on the
day before that scheduled Distribution Payment Date ("Reference Period"), either or both of
the following have occurred:
- a dividend, distribution or other payment has been declared or paid on or in respect of any of its Junior Obligations or (except on a pro rata basis with the Securities) any of the Issuer’s Parity Obligations; or
- any of the Issuer’s Junior Obligations has been redeemed, reduced, cancelled, bought back or acquired for any consideration or (except on a pro rata basis with the Securities), any of the Issuer’s Parity Obligations has been redeemed, reduced, cancelled, bought back or acquired for any consideration
- The Issuer may not elect to defer any distribution if during the six-month period ending on the
day before that scheduled Distribution Payment Date ("Reference Period"), either or both of
the following have occurred:
- Cumulative Deferral
- Any distribution deferred pursuant to this Condition 4(c) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4(a)) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution.
- Dividend Stopper
- If on any Distribution Payment Date, payments of all distribution scheduled to be made on such date are not made in full by reason of this Condition 4, the Issuer shall not and shall procure that none of its subsidiaries shall:
- declare or pay any dividends, distributions or make any other payment on, and will procure that no dividend, distribution or other payment is made on, any of its Junior Obligations or (except on a pro rata basis) any of its Parity Obligations; or
- redeem, reduce, cancel, buy-back or acquire for any consideration, and will procure that no redemption, reduction, cancellation, buy-back or acquisition for any consideration is made in respect of, any of its Junior Obligations or (except on a pro rata basis) any of its Parity Obligations
- If on any Distribution Payment Date, payments of all distribution scheduled to be made on such date are not made in full by reason of this Condition 4, the Issuer shall not and shall procure that none of its subsidiaries shall:
Reset Date: 27 May 2020 & every 4 years thereafter
The bond calculator is currently not supported for this bond.
