Construction company Wee Hur Holdings (SGX:E3B
) has established a $500 million multicurrency medium term note programme, that will be offered outside the USA and in Singapore to institutional investors.
Wee Hur says that it will issue notes from time to time in Singapore dollars or any currency, in various amounts and tenors, and may bear interest at fixed, floating or hybrid rates, or not bear any interest.
Net proceeds arising from the issue of the notes will be used for the group’s general corporate purposes, including refinancing of existing borrowings and financing of investments, acquisitions, general working capital and or expenditure of the group.
DBS Bank and United Overseas Bank (SGX:U11) (UOB) have been appointed to act as the joint arrangers and dealers of the programme.
Shares in Wee Hur closed flat at 42 cents on May 30.
