By William Gullotti and Cristal Cody
Buffalo, N.Y., April 29 – ST Engineering Urban Solutions USA Inc., a U.S. subsidiary of Singapore Technologies Engineering Ltd., priced a two-part offering of notes totaling $1 billion on Tuesday, according to a market source.
The first tranche consists of $700 million 3 3/8% three-year notes priced at Treasuries plus 68 basis points, low to initial spread talk in the 100 bps area.
The company also sold $300 million of 3¾% 10-year notes at Treasuries plus 105 bps, low to initial talk in the 135 bps area.
Deutsche Bank Securities Inc., JPMorgan, Standard Chartered Bank, BofA, Credit Agricole CIB, OCBC Bank and Societe Generale are the bookrunners for the Regulation S and Rule 144A notes.
ST Engineering is a Singapore-based engineering group.
| Issuer: | ST Engineering Urban Solutions USA Inc.
|
| Amount: | $1 billion
|
| Issue: | Notes
|
| Bookrunners: | DBS, JPMorgan, Standard Chartered Bank, Bank of America, Credit Agricole CIB, OCBC Bank and Societe Generale
|
| Pricing date: | April 26
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2027 notes
|
| Amount: | $700 million
|
| Maturity: | May 5, 2027
|
| Coupon: | 3 3/8%
|
| Spread: | Treasuries plus 68 bps
|
| Price talk: | Treasuries plus 100 bps area
|
|
|
| 2032 notes
|
| Amount: | $300 million
|
| Maturity: | May 5, 2032
|
| Coupon: | 3¾%
|
| Spread: | Treasuries plus 105 bps
|
| Price talk: | Treasuries plus 135 bps area
|
|
|
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