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LONDON - Aseana Properties Limited (LSE:ASPL) has secured a 180-day extension for the repayment of medium term notes (MTN) with a nominal value of 20.0 million Malaysian ringgit (approximately $4.7 million), according to a press release statement issued Friday.
The property developer, which operates in Malaysia and is listed on the London Stock Exchange (LON:LSEG), has pushed the maturity date from June 12, 2025, to December 9, 2025. The agreement was reached between MTrustee Berhad, the trustee of the MTN, and Potensi Angkasa Sdn. Bhd., a wholly owned subsidiary of Aseana.
Under the extension terms, the coupon rate will remain unchanged at 7.5%. However, the calculation method has been modified to be based on the actual number of days elapsed on a 365-day basis, rather than the previous semi-annual calculation for early redemption.
This extension follows similar arrangements secured earlier this year for 18 other tranches of medium term notes with an aggregate nominal value of 17.1 million Malaysian ringgit (approximately $4.0 million). Those extensions were previously announced by the company on February 24, March 5, and April 7, 2025.
The company did not provide specific reasons for seeking the extension in its announcement.
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