SIA to raise S$6.2bn via mandatory convertible bonds; posts loss

Singapore Airlines (SIA) is proposing to issue the second tranche of Mandatory Convertible Bonds (Rights 2021 MCBs), which will raise approximately S$6.2 billion in additional liquidity. Shareholders can participate in the recovery and future growth of the SIA Group by subscribing to the Rights 2021 MCBs. Temasek, SIA’s largest shareholder, has provided an undertaking to subscribe to its pro-rata entitlement and any remaining balance of this issuance. The terms of the Rights 2021 MCBs are as approved by shareholders at the Company’s Extraordinary General Meeting on 30 April 2020, and renewed at the Company’s Annual General Meeting on 27 July