Singapore Medical to Accept Bids Worth SG$31.5 Million for 3.54% Notes
Singapore Medical Group (SGX:5OT) said it will accept SG$31.5 million in aggregate principal amount of its 3.54% notes due 2029 for purchase, following an invitation to noteholders to sell the debt securities for cash, according to a Friday filing to the Singapore stock exchange.The company received valid offers to sell SG$64 million of the SG$90 million outstanding notes by the Aug. 26 expiration deadline, exceeding its maximum acceptance amount of SG$31.5 million.Settlement is scheduled to take place on Aug. 31, when the noteholders whose securities are accepted will receive SG$262,125 for each S$250,000 of notes, along with accrued interest from May 20 through the day before settlement.On completion of the settlement, SG$58.5 million of the notes will remain outstanding, the statement said.
