The_King Posted November 12, 2020 Share Posted November 12, 2020 SINGAPORE (THE BUSINESS TIMES) - Singapore Airlines (SIA) is proposing to issue up to $850 million in the principal amount of bonds, convertible into new ordinary shares in the company's capital, it announced on Thursday (Nov 12) after market close. The convertible bonds are proposed to be placed with institutional investors and other investors. HSBC has been appointed as the sole book runner and lead manager for the issue. The $850 million figure is an indicative size. The terms of the bonds, including the aggregate in principal amount to be issued, will be confirmed upon the pricing of the issue, after HSBC completes a book-building exercise. Pricing was expected to come on or around Thursday, with SIA to make an announcement of the definitive terms afterwards. SIA will apply to the SGX to list the convertible bonds and new shares. The issue of the bonds is conditional upon in-principle approval for their listing. The closing date of the issue is expected to be on or about Dec 3. SIA expects to use the proceeds to fund operating cash flow, debt service and capital expenditure. SIA said: "The financial effects of the issue will depend on the terms of the convertible bonds and be disclosed in the announcement to be issued by the company following the pricing of the issue." The national carrier's shares closed up two Singapore cents or 0.51 per cent at $3.94 on Thursday, before the news. 1 Link to comment Share on other sites More sharing options...
The_King Posted November 12, 2020 Author Share Posted November 12, 2020 the king Link to comment Share on other sites More sharing options...
Homelander Posted November 13, 2020 Share Posted November 13, 2020 I wonder those who bought initially will continue to load bo 1 Link to comment Share on other sites More sharing options...
socrates469bc Posted November 13, 2020 Share Posted November 13, 2020 22 minutes ago, Homelander said: I wonder those who bought initially will continue to load bo many kgks will becos in loong loong they trust. what sia shld do is to restructure its liabilities. i guesstimate sia's cash burn is ard sgd500m/mth of which at least sgd300m/mth goes to servicing its liabilities. 1 Link to comment Share on other sites More sharing options...
aaur4man Posted November 13, 2020 Share Posted November 13, 2020 think it gonna continue for years until the hedging over man Link to comment Share on other sites More sharing options...
socrates469bc Posted November 13, 2020 Share Posted November 13, 2020 (edited) 27 minutes ago, aaur4man said: think it gonna continue for years until the hedging over man depends on how the contract is structured but most of the time, the opt-out, if any, is with investment banks. only way to stabilize the losses is to short the relevant months and square them as the losses minimize. Edited November 13, 2020 by socrates469bc Link to comment Share on other sites More sharing options...
The_King Posted November 13, 2020 Author Share Posted November 13, 2020 8 hours ago, socrates469bc said: depends on how the contract is structured but most of the time, the opt-out, if any, is with investment banks. only way to stabilize the losses is to short the relevant months and square them as the losses minimize. Shhhhhh. Don't tell them 1 Link to comment Share on other sites More sharing options...
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