“The issuance of the notes under the newly established multicurrency debt issuance programme will enable the group to diversify its funding sources and access medium term funding in addition to equity and bank loans,” says Lim Chung Chun, chairman and CEO of iFast Corporation.
iFast Corporation has priced its inaugural issue of notes worth $100 million. The five-year notes represent the first bond issuance under the group’s $300 million multicurrency debt issuance programme that was established on May 29.
The notes come with a coupon rate of 4.328% per annum (p.a.) and are due in 2029. The net proceeds raised will go towards general corporate purposes which may include refinancing existing borrowings, financing capital expenditure, investments including capital injections into the group’s UK-based digital bank, iFAST Global Bank Limited as well as general working capital.
