“The strong support and confidence from investors underscore the progress we have made in strengthening our financial position and enhancing our credit profile,” says Seatrium CFO Stephen Lu. “We remain committed to prudent financial management and to building enduring partnerships with the capital markets as we continue to advance Seatrium’s growth agenda.”
In a bourse filing on April 28, offshore and marine company Seatrium announced the successful closing of its inaugural $400 million, 2.95% fixed rate notes due in 2031. This issuance marks Seatrium’s first drawdown under its $3 billion multicurrency debt issuance programme.
The order book for the issuance exceeded $670 million, representing coverage of approximately 1.7 times. Seatrium notes that “strong” demand for the notes from high-quality regional institutional investors — fund managers, banks, corporates and high net worth individuals — highlight the market’s confidence in Seatrium’s credit profile and growth strategy.
