SPHSP 4.500% Perpetual Corp (SGD)

Bond Factsheet

Matured/ Called

Singapore Press Holdings Ltd

Indicative

Full Lot

Bid Price

99.953

Change in Bid Price

Bid Yield (%)

23.394 %

Change in Bid Yield

18.866

Ask Price

100.389

Change in Ask Price

Ask Yield (%)

-131.782 %

Change in Ask Yield

remove 136.081

Indicative price as of 06 Jun 2022, 12:00am

chevron_leftchevron_right

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

30 May 2019

Issue Date

06 Jun 2019

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 0.178

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.500

Coupon Type

Variable

Annual Coupon Rate

4.500

Coupon Frequency

Semi Annually

Seniority

Subordinated

Reference Rate

Reset Date: 07 June 2024 and every 5 years thereafter
Reset Rate: Prevailing SGD 5Y SOR + the Initial Spread (2.612%) + step-up margin (100 bps on June 2024)

ISIN

SGXF40510863

CUSIP

ZS9158735

Bond Currency

SGD

Total Issue Size

150,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

High Yield 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)

Deferral Interest Payment

If Cumulative Deferral is set out hereon, any distribution deferred pursuant to this Condition 4(IV) shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect (in the circumstances set out in Condition 4(IV)(a)) to further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution. The Issuer is not subject to any limit as to the number of times distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4(IV) except that this Condition 4(IV)(c) shall be complied with until all outstanding Arrears of Distribution have been paid in full.

Dividend Stopper

If Dividend Stopper is set out hereon and on any Distribution Payment Date, payments of all distributions scheduled to be made on such date are not made in full by reason of this Condition 4(IV), the Issuer shall not and shall procure that none of its subsidiaries shall:

(i) 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 the Issuer's Junior Obligations or (except on a pro rata basis) any of the Issuer's Specified Parity Obligations; or

(ii) 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 the Issuer's Junior Obligations or (except on a pro rata basis) any of the Issuer's Specified Parity Obligations,

in each case, other than (1) in connection with any employee benefit plan or similar arrangements with or for the benefit of the employees, directors or consultants of the Group, (2) as a result of the exchange or conversion of Specified Parity Obligations of the Issuer for the Junior Obligations of the Issuer and/or (3) as otherwise specified in the applicable Pricing Supplement, unless and until (A) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the Issuer has satisfied in full all outstanding Arrears of Distribution, (B) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) a redemption of all the outstanding Perpetual Securities has occurred, the next scheduled distribution has been paid in full or an Optional Distribution equal to the amount of a distribution payable with respect to the most recent Distribution Payment Date that was unpaid in full or in part, has been paid in full or (C) the Issuer is permitted to do so by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders and/or as otherwise specified in the applicable Pricing Supplement.

Dividend Pusher

Yes (look-back 6 months)

Issuer Call

If so provided hereon, the Issuer may, on giving irrevocable notice to the Perpetual Securityholders falling within the Issuer's Redemption Option Period shown on the face hereof, redeem all or, if so provided, some of the Perpetual Securities at their Redemption Amount or integral multiples thereof and on the date or dates so provided. Any such redemption of Perpetual Securities shall be at their Redemption Amount, together with distribution accrued (including any Arrears of Distribution and any Additional Distribution Amount) (if any) to (but excluding) the date fixed for redemption.

First Call Date: 07 June 2024

Cessation of Trading Call

The Perpetual Securities may be redeemed at the option of the Issuer in whole, but not in part, on any Distribution Payment Date or, if so specified hereon, at any time on giving not less than 30 nor more than 60 days' notice to the Perpetual Securityholders (which notice shall be irrevocable), at their Redemption Amount, (together with distribution (including any Arrears of Distribution and any Additional Distribution Amount) accrued to (but excluding) the date fixed for redemption), following the occurrence of a Cessation/Suspension of Trading Event.

For the purposes of these Conditions:

(i) a "Cessation/Suspension of Trading Event" occurs when (i) the shares of the Issuer cease to be traded on the Singapore Exchange Securities Trading Limited (the "SGX-ST"), 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; and

(ii) "market day" means a day on which the SGX-ST is open for securities trading.

Cessation/Suspension of Trading of Shares Margin or Cessation/Suspension of Trading Margin: 1.00 per cent.

Coupon Step

Coupon step up of 100bps on June 2024.

Cessation/Suspension of Trading of Shares Margin or Cessation/Suspension of Trading Margin: 1.00 per cent.

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.