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SIA's mandatory convertible bond issue just over 60% subscribed

The Edge Singapore
The Edge Singapore6/18/2021 08:30 PM GMT+08  • 2 min read
SIA's mandatory convertible bond issue just over 60% subscribed
The airline has raised more than $15 billion to tide itself through the pandemic
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Singapore Airline’s follow-up fundraising via a mandatory convertible bond issue did not win the support of all shareholders.

At the close of acceptance on June 16 2021, SIA received valid acceptances and excess applications of just over $3.75 billion in principal amount of the so-called Rights 2021 MCBs, which is equivalent to just 60.6% of the aggregate sum of nearly $6.2 billion SIA was trying to raise via the MCBs.

As indicated earlier, Temasek Holdings, the airline’s controlling shareholder, will stump up around $2.44 billion to mop up the rights to the MCB that other SIA shareholders did not want.

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