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Boustead Projects to acquire mezzanine debt of property group

Felicia Tan
Felicia Tan8/12/2021 9:46 AM GMT+08  • 2 min read
Boustead Projects to acquire mezzanine debt of property group
Closing of the NPA is expected to take place on Aug 13.
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Boustead Projects, through its wholly-owned subsidiary, BP-Real Estate Investments, has, together with Roark Capital and Lim Teck Lee Investments (collectively the purchasers), entered into a notes purchase agreement (NPA) with Onward Capital, Fabia Enterprises, Good Crown and Key Trading (collectively the vendors).

The agreement stipulates that the purchasers agree to acquire $110 million in principal notes due Nov 30, 2020 issued by SC Aetas (Cayman) under the subscription agreements dated July 29, 2019.

Each purchaser will acquire the same proportion of notes from the vendors according to the July 2019 agreement.

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