By Susanna Moon
Chicago, July 21 – Halcyon Agri Corp. Ltd. said it priced S$125 million of five-year notes at par.
The coupon will be 6˝% for the first three years, stepping up to 8˝% after that.
The notes were issued under the company’s S$300 million multicurrency debt program, established on April 25.
DBS Bank Ltd. is the lead manager and bookrunner.
Proceeds will be used to finance general corporate purposes, including to finance potential acquisitions, strategic expansions, general working capital, capital expenditure and investments and to refinance borrowings.
The following terms were amended, according to a company notice:
• The company may redeem all or some of the series 1 notes at par plus accrued interest on any interest payment date beginning on the sixth interest payment date with at least 30 days’ notice; and
• If the proposed acquisition by Halcyon Rubber Co. Pte. Ltd., a wholly owned subsidiary of the company, of the share capital of Anson Co. (Private) Ltd. fails to occur by Sept. 10, the notes will be callable on the date falling 30 days after the long-stop date at its redemption amount plus accrued interest.
The company has applied to list the notes on the Singapore Exchange Securities Trading Ltd. on Aug. 1.
| Issuer: | Halcyon Agri Corp. Ltd.
|
| Issue: | Series 1 notes
|
| Amount: | S$125 million
|
| Maturity: | Five years
|
| Bookrunner: | DBS Bank Ltd.
|
| Coupon: | 6˝%, stepping up to 8˝% on the sixth interest payment date
|
| Price: | Par
|
| Call: | At par on any interest payment date beginning on sixth interest payment date
|
| Announcement date: | July 21
|
| Settlement date: | July 31
|
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