POWEDC 3.625% 08Nov2029 Corp (SGD)

Bond Factsheet

PowerDC HoldCo Pte. Ltd

Indicative

Full Lot

Bid Price

102.850

Change in Bid Price

0.017

Bid Yield (%)

2.600 %

Change in Bid Yield

remove 0.007

Ask Price

103.517

Change in Ask Price

0.017

Ask Yield (%)

2.365 %

Change in Ask Yield

remove 0.007

Indicative price as of 09 Oct 2026, 3:59pm

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Bond Information

PowerDC Holdco Pte. Ltd. operates as a holding company. The Company, through its subsidiaries, owns and manages data centers.

Bond Issuer

PowerDC HoldCo Pte. Ltd

Guarantor

Credit Guarantee & Investment Facility

Announcement Date

29 Oct 2024

Issue Date

08 Nov 2024

Maturity Date

08 Nov 2029

Years to Maturity / Next Call

3.078 / 2.914

Modified Duration

2.855 @ 09 Oct 2026

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.625

Coupon Type

Fixed

Annual Coupon Rate

3.625

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SGXF20914465

CUSIP

YU8165695

Bond Currency

SGD

Total Issue Size

100,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Information Technology

Bond Sub Sector

Technology Hardware, Storage and Peripherals

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

Make Whole Call

(i) At any time on or after the Issue Date, the Issuer may, on giving not less than thirty (30) nor more than sixty (60) days’ notice to the Bondholders in accordance with Condition 16 (Notices) and to the Guarantor, the Trustee and the CDP Paying Agent in writing (which notice shall be irrevocable), redeem the Bonds (in whole, but not in part) on any Business Day provided that the Issuer has appointed a Calculation Agent prior to the date on which such notice is given, and provided further that:

(A) in the case of a redemption of any Bonds on any Business Day that is prior to the Make Whole Call Date, such Bonds will be redeemed at the Make Whole Amount per Calculation Amount; and

“Make Whole Call Date” means 8 September 2029;

“Make Whole Amount” means an amount equal to the greater of:

(a) the Calculation Amount; and
(b) an amount equal to the sum of:
(i) the present value of the principal amount of the Bonds discounted from the Make Whole Call Date; and
(ii) the present value of the remaining scheduled interest payments due on such Bonds to and including the Make Whole Call Date.

The expression “present value” in (i) and (ii) above is to be calculated by discounting the relevant amounts to the date of redemption of the Bonds at the rate equal to the sum of:

(1) the prevailing SGD SORA OIS corresponding to the duration of the remaining period to the Make Whole Call Date (the “Make Whole Call Reference Rate”) as of the close of business on the eighth business day prior to the date of redemption of the Bonds (the “Make Whole Amount Determination Date”), provided that if there is no quoted SGD SORA OIS corresponding to the relevant period, the “prevailing SGD SORA OIS” used will be the interpolated interest rate as calculated using the quoted SGD SORA OIS for the two periods most closely approximating the duration of the remaining period to the Make Whole Call Date and the actual number of days elapsed assuming a 365-day year; and

(2) 0.25 per cent.;

Change Control Call

(i) If a Change of Control occurs, the Bonds may be redeemed at the option of the Issuer in whole, but not in part only, at any time within ninety (90) days following such occurrence, on giving not less than thirty (30) nor more than sixty (60) days’ notice to the Bondholders in accordance with Condition 16 (Notices) and to the Guarantor, the Trustee and the CDP Paying Agent in writing (which notice shall be irrevocable) at 101 per cent. of their principal amount, together with interest accrued but unpaid to but excluding the date fixed for redemption.

“Change of Control” means:

(a) DigitalBridge Group, Inc. and/or Digital Colony Management, LLC together with their respective DCP Affiliates and DCP Permitted Transferees collectively cease to (directly or indirectly) legally and beneficially own more than 50 per cent. of the issued share capital of, and Control, the Issuer;

(b) Vantage Data Centers APAC Holdings Pte. Ltd. (formerly known as AgileDC Holdings Pte. Ltd.) ceases to (directly or indirectly) legally and beneficially own 100 per cent. of the issued share capital of, and Control, the Issuer;

(c) (on and after the DCP Permitted Reorganisation Transfer Date) Vantage Data Centers APAC Holdings Pte. Ltd. (formerly known as AgileDC Holdings Pte. Ltd.) ceases to legally and beneficially own 100 per cent. of the issued share capital of, and Control, VDC PowerUp Pte. Ltd.;

(d) (on and after the DCP Permitted Reorganisation Transfer Date) VDC PowerUp Pte. Ltd. ceases to legally and beneficially own 100 per cent. of the issued share capital of, and Control, the Issuer; or

(e) the Issuer ceases to legally and beneficially own 100 per cent. of the issued shares in, and Control, Digital Treasure Holdings Limited;

“Control” means, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise, by:

(a) possession, directly or indirectly, of more than 50 per cent. of the voting power of such Person; or (b) having the power, directly or indirectly, to appoint a majority of the board of directors or similar governing body of such person,

and the terms “Controlled” and “under common Control with” have, unless expressly provided otherwise, meanings correlative to the above;

Additional Note

Redemption in the event of a CGIF Acceleration Event:

(i) At any time following the occurrence of a CGIF Acceleration Event, the Guarantor may at its discretion, on giving not less than seven (7) nor more than fifteen (15) days’ notice to the Issuer, the Trustee and the CDP Paying Agent, require the Issuer to redeem the Bonds in whole, but not in part only, at their principal amount, together with interest accrued but unpaid to but excluding the date fixed for redemption following which the Issuer shall immediately, or if the Issuer fails to do so the Guarantor may, give notice to the Bondholders in accordance with Condition 16 (Notices) and to the Trustee and the CDP Paying Agent in writing (which notice shall be irrevocable).

(ii) For the purposes of this Condition 7(e) (Redemption in the event of a CGIF Acceleration Event), a “CGIF Acceleration Event” occurs if:
(a) an Issuer Event of Default occurs; or
(b) a Missed Payment Event has occurred and is continuing and irrespective of whether or not the Guarantor has already paid any Guaranteed Amounts in respect of such Missed Payment Event; or
(c) any term or provision of these Conditions, the Trust Deed or the Agency Agreement has been amended, modified, varied, novated, supplemented, superseded, waived or terminated without the prior written consent of the Guarantor as required pursuant to the terms of the CGIF Guarantee, these Conditions, the Trust Deed or the Agency Agreement, as the case may be, and the Guarantor has delivered a CGIF Acceleration Notice to the Trustee in accordance with the Trust Deed.

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