The Straits Trading Company has launched and priced $170 million worth of notes due 2026.
The notes are denominated in Singapore dollars and will be drawn down under the company’s $500 million multicurrency debt issuance programme.
They will carry a coupon of 4.10% per annum.
The notes are expected to be issued on May 4 and listed on the Singapore Exchange (SGX) the day after.
According to the company, the net proceeds of the notes will be used for general corporate purposes, including the refinancing of existing borrowings and the financing of working capital and capital expenditure requirements of the Issuer and its subsidiaries.
DBS Bank and UOB are the joint lead managers and bookrunners for the offering of the notes.
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As at 9.23am, shares in Straits Trading Company are trading 4 cents higher or 1.25% up at $3.23.
