SPH converts programme issuances from notes to debt

The Bank of New York Mellon replaced British and Malayan Trustees as the trustee.

Singapore Press Holdings (SPH) has converted its $1b multicurrency medium term note programme into a debt issuance programme, an announcement revealed. Following the change, SPH may issue securities in series or tranches that will be used for capex and corporate requirements.

Moreover, British and Malayan Trustees will resign as the programme’s trustee and will be replaced by The Bank of New York Mellon, Singapore.

OCBC’s role as the issuing and paying agent, paying agent, and calculation agent will be taken over The Bank of New York Mellon, Singapore as CDP issuing and paying agent, CDP calculation agent, CDP transfer agent, and CDP registrar; The Bank of New York Mellon, London as non-CDP issuing and paying agent and non-CDP calculation agent; and The Bank of New York Mellon SA/NV, Luxembourg as non-CDP transfer agent and non-CDP registrar.

Meanwhile, DBS will join OCBC as the programme’s existing arranger and dealer.