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Centurion issues $53m fixed rate notes due May 2026

Noteholders have two options to exchange their outstanding existing notes. 

Centurion has issued $53m fixed rate notes due 28 May 2026 under the $750m Multicurrency Debt Issuance Programme.

The exchange consideration comprises a principal amount of $250,000 of the new notes, a cash amount equal to 0.65% of the principal amount, and accrued interest.

Noteholders have two options to exchange any and all outstanding existing notes. 

The first option allows noteholders to exchange their outstanding existing notes for the same principal amount of the new Singapore dollar-denominated 4-year fixed rate notes due 2029.

The new notes are expected to be issued under the same programme on 31 January, at a rate of at least 5.25% per annum, payable semi-annually in arrears.

Noteholders can also choose to sell their outstanding existing notes to Centurion for cash in an amount not exceeding the aggregate principal amount of the gross proceeds from the new issue.

The outstanding notes have an interest rate of 6.50% per annum,  payable semi-annually in arrears. Centurion will exercise its option to redeem all of the outstanding existing notes on the interest payment date falling on 28 May.

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