Product Description
Terms & Conditions
Investment Instruments / Types
• Mandatory Convertible Bond
• Euroclear eligible with ISIN code
• Listed on SGX
• No issuance of other more preferred instruments
Structure of Fees / Performance Fee
• No Management Fee. Co-acquisition structure, TET is operating directly the oil assets without intermediary layers.
• 1.5% quarterly coupon (net 6% per annum) until conversion (into 80% of equity in TET)
• Beam Earth Inc. retains 20% of TET following conversion & realization
Term / Notice Period
• First tranche close 15th January 2022
• Conversion at or before six year term (2028)
• Bonds will be converted into direct ownership of TET (80% to Bondholders and 20% to Beam Earth Inc.)