ST Telemedia to skip $350M perpetual securities redemption on January 2024

The distribution rate of securities will remain at 5.00% per annum.

ST Telemedia will not redeem its $350m 5% subordinated perpetual securities on 17 January 2024, the first call date.

The Singaporean investor said there will also be no reset of the distribution rate of the securities on 17 January 2024 for the “avoidance of doubt,” meaning rates will remain at 5% per annum.

In a bourse filing, ST Telemedia cited three factors which drove its decision to skip redemption on the first call:

Unfavourable market conditions for the issuance of similar perpetual securities at a lower yield;
Prudent management of ST Telemedia's capital structure.
To maintain flexibility so that ST Telemedia can exercise its right to redeem the securities on subsequent call dates.

Follow the link for more news on

securities

Also Read

What 2025 holds for SREITs

Food Innovators' IPO oversubscribed 1.4 times

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

3 days ago

SBR 4 Lorem Ipsum [8 May Top Stories]

3 days ago

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness