Back 04 Jul 2025

Straits Trading announces relevant redemption event for S$370 million exchangeable bonds after ESR delisting

Link: https://links.sgx.com/1.0.0/corporate-announcements/CYMR4W8PX4XVSBZJ/3746481e20ae3bfd9d08813e626095ecfb7ad55c9d12074e91b1998b223925a7


Summary:

  • 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.

  • 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.

  • 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.

  • Earlier announcements related to this included updates on the ESR privatisation and shareholder approvals.

  • 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).