10-year fully redeemed bonds – JG Summit

JG Summit Holdings Inc. (JGSHI) has redeemed all of its 10-year notes that matured on January 23, 2023.

“In accordance with the phrases of the Gonds, JG Summit Philippines, Ltd., a subsidiary of JG Summit Holdings, Inc., the guarantor of the Notes, has repurchased an combination principal quantity of US$138,826,000 from the Gonds on the open market and the Issuer obtained her termination on December 7, 2022,” the corporate stated in a disclosure on Wednesday. Final month, JG Summit introduced that JG Summit Philippines had repurchased $138.826 million in bonds, which have been referred to as on December seventh.

At the moment, the excellent principal quantity of the bonds was stated to have been diminished to $611,174 million.

The ten-year bond was provided in 2013 with an unique principal quantity of $750 million and carried a coupon of 4,375 p.c.

It was stated to be the biggest abroad company bond transaction from the Philippines on the time.

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The yield was additionally stated to be the bottom ever for a US greenback 10-year bond from the Philippines.

It was JG Summit Group’s first offshore foray in seven years and bid has been elevated from the unique $500 million bid dimension on account of sturdy demand.

Orders for the bonds reached $6.6 billion.