Vallianz Holdings says it has exercised its rights to defer the payment of distribution for the US$22.5 million ($29.7 million) 4% senior perpetual securities.
The securities were issued under Vallianz’s $500 million multicurrency debt issuance programme.
SEE:Starhill Global REIT prices $100 mil perpetual securities with 3.85% coupon under $2 bil multicurrency debt issuance programme
The payment of distribution was supposed to be due on Jan 5.
The deferment was made on the basis that no dividend, distribution, or other payments were made by the company during the 12-month period ended Jan 5, and that none of the company’s junior obligations – which refer to any class of the company’s share capital and other instruments and securities – were redeemed, reduced, cancelled, bought back, or acquired.
Shares in Vallianz closed flat at 4.8 cents on Jan 5.
