On August, Madison Pacific is pleased to announce that we have been appointed as Trustee, Registrar and Principal Paying, Conversion and Transfer Agent in relation to Convertible Bonds in aggregate principal amount of S$50,402,608 (“Bonds”) issued by Banyan Tree Holdings Limited (“Issuer”) and listed on the Singapore Exchange (“SGX”). During the conversion period, bondholders will have the right to convert their Bonds into ordinary shares of the Issuer, credited as fully paid, in accordance with the Terms and Conditions of the Bonds.
Madison Pacific Singapore’s appointment as Trustee of the Bonds represents Madison Pacific’s first appointment as trustee of SGX-listed retail bonds subsequent to Madison Pacific Singapore obtaining its trust business licence from the Monetary Authority of Singapore. This demonstrates Madison Pacific’s commitment to perform a full suite of corporate trustee services in Singapore’s financial markets.