HYFSP 8.000% Perpetual Pref (SGD)

Bond Factsheet

Trading without Accrued Interest

Hyflux Ltd

Indicative

Full Lot

Bid Price

63.105

Change in Bid Price

Bid Yield (%)

12.069 %

Change in Bid Yield

0.004

Ask Price

64.975

Change in Ask Price

Ask Yield (%)

11.737 %

Change in Ask Yield

0.004

Indicative price as of 23 May 2023, 12:00am

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Bond Information

Hyflux Limited designs, fabricates, installs, commissions, and maintains treatment systems for water purification, wastewater treatment, water recycling, advanced membrane filtration, and high-purity piping systems and equipment hook-up. The Company services its customers in several industries, including the electronics, pharmaceutical, chemical, food and beverage, and biotechnology.

Bond Issuer

Hyflux Ltd

Guarantor

Announcement Date

14 Apr 2011

Issue Date

25 Apr 2011

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.083

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.000

Coupon Type

Fixed

Annual Coupon Rate

8.000

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Reference Rate

Accrued Interest

Trading without

ISIN

SG2D17969577

CUSIP

EI6470633

Bond Currency

SGD

Total Issue Size

400,000,000

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

Exchange Listed

SGX

Bond Feature(s)

Deferral Interest Payment

CUMULATIVE PAYMENT
To the extent that the Dividend or any part thereof is not paid on a Dividend Date, it shall continue to accumulate (whether or not there are any Distributable Reserves) and payment shall be subject to the Board’s discretion as set out in the Articles.

DIVIDEND STOPPER

In the event any Dividend is not paid in full (whether or not declared by the Board) for any reason on any Dividend Date, the Issuer shall not:

declare or pay any dividends or other distributions in respect of, or (if permitted) repurchase or redeem, its Shares or any other security or obligation of the Issuer ranking junior to the Class A Cumulative Preference Shares (or contribute any moneys to a sinking fund for the payment of any dividends or other distributions in respect of, or for the redemption of, any such Shares, securities or obligations); or

repurchase or redeem any Parity Obligation which are securities (or contribute any moneys to a sinking fund for the payment of any dividends or other distributions in respect of, or for the redemption of, any such Parity Obligation)

Reference from Offer Information Statement dated 13 April 2011

Issuer Call

the Class A Cumulative Preference Shares may be redeemed for cash as described below, in whole or in part (on a pro rata basis): at the option of the Issuer, on any date on or after the date falling 7 years after the Issue Date (the "First Call Date") (25 April 2018) at the Redemption Price (100%);

Reference from Offer Information Statement dated 13 April 2011

Coupon Step

If the Class A Cumulative Preference Shares are not redeemed by the Issuer on the First Call Date (25 April 2018), Dividends will accrue on the Class A Cumulative Preference Shares at the rate of 8% per annum of their Liquidation Preference on and from the First Call Date.

Reference from Offer Information Statement dated 13 April 2011

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