By Marisa Wong
Madison, Wis., May 20 – Singapore’s Gallant Venture Ltd. said it intends to issue S$55 million of additional 7% notes due 2018 at par.
The notes will be consolidated and form a single series with the existing S$175 million 7% notes issued on April 6.
DBS Bank Ltd. is the lead manager and bookrunner for the new notes. CIMB Bank Bhd., DBS Bank and UBS AG, Singapore Branch were the joint lead managers and bookrunners for the original tranche.
The notes will be issued under the company’s $500 million euro medium-term note program established on Nov. 15, 2013.
Proceeds from the latest tranche will be used to refinance debt, for working capital and for general corporate purposes.
The new notes are expected to settle on May 27.
The investment holding company is based in Singapore.
| Issuer: | Gallant Venture Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$55 million
|
| Maturity: | April 6, 2018
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Bookrunner: | DBS Bank Ltd.
|
| Announcement date: | May 20
|
| Settlement date: | May 27
|
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