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The Novotel and Mercure Hotels on Singapore’s Stevens Road remain in Oxley’s portfolio after a failed sale
Debt-saddled Oxley Holdings on Thursday announced a S$106.4 million ($80 million) investment in the Singapore developer by Hong Kong-based Dignari Capital Partners (DCP), in the form of convertible notes.
The notes carry annual interest of 4.5 percent, paid semi-annually, with a maturity of 24 months and an option to extend the maturity by a further 12 months, Oxley said in a release.
In what amounts to a stake sale, the notes can be converted into shares of the SGX-listed company at a roughly 15 percent premium to the volume weighted average price per share 10 trading days prior to the date of the agreement, 6 January 2021. ....

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