Oxley Holdings Limited (SGX:5UX) entered into subscription agreement to issue convertible notes for gross proceeds of SGD 106,400,000 on January 6, 2021. The transaction will include participation from by funds managed by new investor DCP Asia Credit Fund III, L.P. and DCP Asia Co-Investment Fund I, L.P. funds managed by Dignari Capital Partners (HK) Limited. The convertible notes shall bear a coupon interest of 4.5% per annum calculated on an actual or 360-day count basis and is payable semi-annually. The initial conversion price is SGD 0.25 per share. The note will be issued at 100% of the principal amount. The maturity is 24 months with an option to extend by another 12 months. The transaction will happen in two tranches where first tranche would be $72,000,000 (SGD 95,760,000) and second tranche would be $8,000,000 (SGD 10,640,000). The transaction is subject to completion of satisfactory legal, financial, tax and commercial due diligence by the subscriber; and provision of evidence that all government or other regulatory approvals, including the submission of an additional listing application to the SGX-ST has been complied with. The net proceeds of the transaction would be $79,500,000 (SGD 105,934,375).