Aspial increases bond placement tranche to $50m, cuts public tranche to $25m

SINGAPORE - Mainboard-listed Aspial Corporation said on Thursday it has decided to re-allocate $25 million in bonds offered to the public to its placement to institutional and other investors. As a result, $50 million is now offered under the placement and $25 million to the public.

Aspial had on Tuesday announced an offering comprising a public tranche of up to $50 million and a placement tranche of up to $25 million to institutional and other investors outside the United States.

The securities are five-year bonds due in 2020, which come with fixed interest of 5.25 per cent per annum.

Aspial said on Thusrday that its bond placement were about three times subscribed and the placement was officially closed at 7.30pm on Wednesday. Valid applications of $50 million at the issue price of 100 per cent were accepted.

The public offer remains open until 12 noon on Aug 26.

The public can apply for the bonds through the ATMs of DBS Bank (including POSB), OCBC Bank and UOB Group, as well as the Internet banking websites of these banks, or the mobile banking interface of DBS which is the sole lead manager and bookrunner for the bond offer.