Singapore's Neptune Orient plans Singapore dollar perpetual notes

By Marisa Wong

Madison, Wis., March 27 - Neptune Orient Lines Ltd. said it plans to issue Singapore dollar-denominated perpetual capital securities.

DBS Bank Ltd., the Hongkong and Shanghai Banking Corp. Ltd., Oversea-Chinese Banking Corp. Ltd. and Standard Chartered Bank will be joint lead managers for the proposed Regulation S offering. DBS Bank will also act as the global coordinator.

Proceeds will be used for general corporate purposes.

The transaction is expected to launch following investor meetings in Singapore beginning on Tuesday.

Neptune Orient Lines is a Singapore-based container shipping and logistics services company.

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