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Singapore Airlines to redeem convertible bonds after big rebound in operating profit
October 26th 2022
Singapore Airlines (SIA) will redeem the S$3.5 billion (US$2.5 billion) Mandatory Convertible Bonds (MCB) issued in 2020. Read More » The MCBs will be redeemed on December 8 at 110.408% of the principal amount, SIA told Singapore's SGX stock exchange. The redemption rate represented an outlay of S$3.86 billion. SIA raised the S$3.5 billion through the MCB offer in 2020 as part of efforts to shore up its balance sheet during the pandemic. The decision to redeem the MCBs followed SIA’s announcement in July that it had returned to the black in the three months to June 30, achieving the second highest quarterly operating profit in its history. SIA’s cash balance increased by S$2.3 billion during the quarter, to S$16.1 billion at June 30, the group’s financial statement showed.
