OM Unit Fully Redeems Outstanding Private Bonds Early
MT Newswires Live
Yesterday
OM (KLSE:OMH) unit OM Materials (S) has fully redeemed its outstanding private bonds ahead of maturity.
The bonds, issued in November 2022, raised AU$30.9 million and carried a 10% annual coupon, payable semi-annually.
OM Materials (S) exercised its voluntary early redemption right and completed the repayment on March 20, settling the full principal along with all accrued interest. A redemption notice had been issued on March 6, giving bondholders 14 days' notice.
The repayment was funded through proceeds from the disposal of the unit's 26% stake in Ntsimbintle Mining Proprietary, it said.
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