Singapore Airlines (SIA) has given notice of its intention to redeem the $3.5 billion in rights mandatory convertible bonds (MCBs).
The accreted principal amount, being 110.41% of the principal amount, will take place on Dec 8, says SIA via a bourse filling dated Oct 25.
On June 8, 2020, SIA completed its $5.3 billion rights issue and issued its $3.5 billion MCBs with a conversion price of $4.84.
Shares in $SINGAPORE AIRLINES LTD(C6L.SI)$closed 1 cent lower or 0.2% down at $5.03 on Oct 25.
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Comments
if cash, where will it come from? less dilution =good for share holders but don't expect dividends anytime soon
if conversion, (sigh ...)