Straits Trading announces relevant redemption event for S$370 million exchangeable bonds after ESR delisting
Summary:
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The Straits Trading Company Limited announced that a Relevant Redemption Event occurred on 3 July 2025, triggered by the delisting of ESR Group Limited from the Hong Kong Stock Exchange following its privatisation.
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This event activates a right for bondholders of the Company’s S$370 million 3.25% secured exchangeable bonds due 2028 to require the Company to redeem all (but not part) of their bonds.
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The Company has issued a Relevant Redemption Event Notice to bondholders, outlining how they may exercise this redemption right under Condition 9(d) of the bond terms.
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Earlier announcements related to this included updates on the ESR privatisation and shareholder approvals.
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The Straits Trading Company is a Singapore-listed conglomerate with interests in resources (via Malaysia Smelting Corporation), property, and hospitality (including Far East Hospitality Holdings).