SIA, on Nov 12, 2020, announced that it was proposing to issue convertible bonds of up to $850 million in its principal amount. The bonds are convertible into new ordinary shares in SIA’s capital and are proposed to be placed with institutional investors and other investors.
The bonds will bear interest at the rate of 1.625% per annum and payable semi-annually in arrear. The initial conversion price was at $5.743 for each new share, representing a conversion premium of 45.77% over the last closing price of the shares quoted on the SGX-ST on Nov 12, 2020.
The bonds will mature on Dec 3, 2025.
Shares in SIA closed 1 cent lower or 0.17% down at $5.78 on April 10.
