Singapore Airlines (SIA) C6L has given notice of its intention to partially redeem half of its mandatory convertible bonds (MCBs) that were issued in a second tranche in June 2021.
The total amount of around $3.4 billion, which is the sum at 108.243% of the principal amount of $3.1 billion, will take place on June 24, says SIA in a bourse filing dated May 10.
The redemption will be carried out on a pro-rata basis, with the redemption amount to be paid to eligible bondholders on June 26 this year, as June 24 is not a business day.
This redemption comes only half a year after SIA announced the full redemption of its 2020 MCBs.
The 2020 and 2021 MCBs, worth $3.5 billion and $6.2 billion respectively, were part of the $15 billion rights issue that was approved by SIA’s shareholders in April 2020, which also comprised $5.3 billion in 2020 rights shares.
SIA will announce its FY2023 results on May 15.
See also: Singapore Savings Bond 10-year average return hits 3.33%, highest since November 2023
Shares in SIA closed 3 cent or 0.51% up at $5.88 on May 10.
