3 Hyflux bonds affected.
1. Hyflux 5.68 09/2014 SGD 60 mio
2. Hyflux 4.29 03/2015 SGD 75 mio
3. Hyflux 3.89 01/2016 SGD 55 mio
Do not know much of the details because the warning label says its UNLAWFUL to distribute to anyone who is not a beneficial owner of the bonds
So I am not supposed to know anything except that I am guessing it is some changes to perhaps some financial covenants in their MTN programme, much like the case of Aspial. And I am supposing that the changes will be to improve their consolidated tangible net worth (to make it look better). And I am assuming there will be a reward if you agree.
I must say they are handling this a lot better than Aspial. And both of them fall into the potentially over-leveraged category.
Would invite anyone with more information to share.
- Presenting Singapore’s Potentially Over Leveraged Corp Bonds (tradehaven.me)