CHIPEN 4.750% 14Jun2021 Corp (SGD)

Bond Factsheet

Matured/ Called

Chip Eng Seng Corp Ltd

Indicative

Full Lot

Bid Price

99.000

Change in Bid Price

Bid Yield (%)

Change in Bid Yield

Ask Price

100.000

Change in Ask Price

Ask Yield (%)

Change in Ask Yield

Indicative price as of 14 Jun 2021, 12:00am

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Bond Information

Chip Eng Seng Corporation Limited specializes in building construction activities in the private and public sector. The Company also owns, develops, and invests in properties.

Bond Issuer

Chip Eng Seng Corp Ltd

Guarantor

Announcement Date

06 Jun 2016

Issue Date

14 Jun 2016

Maturity Date

14 Jun 2021

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.750

Coupon Type

Fixed

Annual Coupon Rate

4.750

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SG73C5000004

CUSIP

LW3419006

Bond Currency

SGD

Total Issue Size

Outstanding Issue Size

13,000,000

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)

Change Control Put

If, for any reason, a Change of Control occurs, the 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 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). 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 Issuer (as applicable), no later than 21 days from the date of the Notice. Any Note or Certificate 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 6(e)(ii):

(1) a "Change of Control" means (1) a change in shareholding of the Issuer on any date which results in Lim Tiam Seng, Lim Tiang Chuan, Lim Tian Back, Lim Tian Moh, Kwek Lee Keow, Lim Sock Joo, Chia Lee Meng Raymond, Lim Ling Kwee, Dawn Lim Sock Kiang and Hoang Vu Ha and their respective Immediate Family Members (together, the "Founder Group") ceasing to collectively own in aggregate direct or deemed interest of at least 25 per cent. of the issued share capital for the time being of the Issuer, and/or (2) any person or persons acting in concert (other than any member of the Founder Group) 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 the Issuer; and

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

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