Singapore Airlines (SIA) is seeking to raise $6.2 billion as it proposes to undertake the issuance of the second tranche of mandatory convertible bonds (MCBs).
The terms of the second tranche of MCBs were approved by shareholders at the company’s extraordinary general meeting (EGM) on April 30, 2020, and renewed at its annual general meeting (AGM) on July 27, 2020.
Entitled shareholders will be offered on a pro-rata basis the right to subscribe to 209 MCBs for every 100 existing shares that they hold on the record date, being May 28.
“The liquidity that we will raise through the MCBs will further strengthen our financial position during these uncertain times, while providing the resources to position the SIA Group for growth and leadership,” says Peter Seah, Singapore Airlines’ chairman.
“We have worked hard to retain and prepare our talented people to continue delivering the world-class service that SIA is renowned for. We will also continue to modernise our fleet with newgeneration aircraft that allow us to deliver greater comfort and innovative products to customers, and help to drive operating efficiency and lower carbon emissions,” he adds.
https://tinyurI.com/y8jeabrr
The terms of the second tranche of MCBs were approved by shareholders at the company’s extraordinary general meeting (EGM) on April 30, 2020, and renewed at its annual general meeting (AGM) on July 27, 2020.
Entitled shareholders will be offered on a pro-rata basis the right to subscribe to 209 MCBs for every 100 existing shares that they hold on the record date, being May 28.
“The liquidity that we will raise through the MCBs will further strengthen our financial position during these uncertain times, while providing the resources to position the SIA Group for growth and leadership,” says Peter Seah, Singapore Airlines’ chairman.
“We have worked hard to retain and prepare our talented people to continue delivering the world-class service that SIA is renowned for. We will also continue to modernise our fleet with newgeneration aircraft that allow us to deliver greater comfort and innovative products to customers, and help to drive operating efficiency and lower carbon emissions,” he adds.
https://tinyurI.com/y8jeabrr
