SPHSP 3.200% 22Jan2030 Corp (SGD)

Bond Factsheet

Matured/ Called

Singapore Press Holdings Ltd

Indicative

Full Lot

Bid Price

100.500

Change in Bid Price

Bid Yield (%)

3.140 %

Change in Bid Yield

Ask Price

101.500

Change in Ask Price

Ask Yield (%)

2.975 %

Change in Ask Yield

Indicative price as of 10 Apr 2023, 12:00am

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Bond Information

Singapore Press Holdings Limited publishes, prints, and distributes newspapers and magazines. The Company also invests in properties, provides multimedia, broadcasting, and telecommunications services, manages shopping centers and other commercial properties, and operates Internet portal site.

Bond Issuer

Singapore Press Holdings Ltd

Guarantor

Announcement Date

15 Jan 2020

Issue Date

22 Jan 2020

Maturity Date

22 Jan 2030

Years to Maturity / Next Call

3.296 / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

3.200

Coupon Type

Fixed

Annual Coupon Rate

3.200

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

SGXF50390586

CUSIP

ZP5129322

Bond Currency

SGD

Total Issue Size

500,000,000

Outstanding Issue Size

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Consumer Discretionary

Bond Sub Sector

Media

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ N.R

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Make Whole Call

The Issuer may, on giving not less than 30 days' nor more than 60 days' prior notice to the Noteholders, redeem all or some of the Notes on any Interest Payment Date prior to the Maturity Date at their Make-Whole Amount together with interest accrued to (but excluding) the date fixed for redemption.

For the purposes of Condition 5(d), the "Make-Whole Amount" means an amount equal to the greater of:

(i) an amount equal to the sum of:

(a) the present value of the principal amount of the Notes discounted from the Maturity Date; and
(b) the present value of the remaining scheduled interest with respect to the Notes to and including the Maturity Date,
the expression "present value" in (a) and (b) above to be calculated by discounting the relevant amounts to the date of redemption of the Notes at the rate equal to the sum of (1) the closing Singapore dollar swap offer rate appearing on (in the case of Singapore dollar swap offer rates corresponding to durations of less than one year) Reuters Screen ABSFIX01 Page under the caption "SGD SOR rates as of 11:00hrs London Time" under the column headed "SGD SOR" (or its replacement page) and (in the case of Singapore dollar swap offer rates corresponding to durations of one year and above) Reuters Screen PYSGD1 Page at 18:00hrs Singapore time under the left hand side of the column headed "TULLET PREBON ASIA - SEMI/ACT 365 - SGD/SGD" (or its replacement page) corresponding to the duration of the remaining period to the Maturity Date of the Notes expressed on a semi-annual compounding basis (rounded up, if necessary, to four decimal places) on the eighth business day prior to the date of redemption of the Notes, provided that if there is no rate corresponding to the relevant period, the swap offer rate used will be the interpolated interest rate as calculated using the swap offer rates for the two periods most closely approximating the duration of the remaining period to the Maturity Date and (2) 0.50 per cent.; and

(ii) the principal amount of the Notes.

Cessation Put

Redemption upon Cessation or Suspension of Trading of Shares

In the event that (i) the shares of the Issuer cease to be traded on the SGX-ST (as defined in the Trust Deed) or (ii) trading in the shares of the Issuer on the SGX-ST is suspended for a continuous period of more than ten market days, the Issuer 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 any date on which interest is due to be paid on such Notes or, if earlier, the date falling 60 days after the Effective Date.

The Issuer shall within seven days after the Effective Date, give written notice to the Trustee, the Issuing and Paying Agent and the Noteholders of the occurrence of the event specified in this Condition 6(g) (provided that any failure by the 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 the Issuing and Paying Agent at its specified office or (in the case of Registered Notes) the Certificate representing such Note(s) with the Registrar at its specified office, together with an Exercise Notice in the form obtainable from the Issuing and Paying Agent or the Issuer (as applicable) not later than 30 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 Issuer.

For the purposes of this Condition 6(g):

(1) “Effective Date” means (in the case of (i) above) the date of cessation of trading or (in the case of (ii) above) the business day immediately following the expiry of such continuous period of ten market days; and

(2) “market day” means a day on which the SGX-ST is open for securities trading.

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