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

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia