Lakshmi Iyer, CFA

Credit

<p><a href="https://www.smartkarma.com/entities/oxley-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1097:1" rel="noopener">Oxley Holdings (OHL SP)</a>  announced fund raising to the tune over S$206.4mn by way of convertibles and loans from Dignari Capital - a HK based credit fund. We view the developments positively and think that it completely removes near-term refinancing risks. This, along with the structure of its remaining debt as well as present bond yields, leads us to raise our recommendation on its bonds due '22 and '23 to "Buy".</p>

Oxley Holdings (OHL SP)  announced fund raising to the tune over S$206.4mn by way of convertibles and loans from Dignari Capital - a HK based credit fund. We view the developments positively and think that it completely removes near-term refinancing risks. This, along with the structure of its remaining debt as well as present bond yields, leads us to raise our recommendation on its bonds due '22 and '23 to "Buy".

Oxley Holdings

Oxley Holdings - Raised to Buy