By Mary-Katherine Stinson
Lexington, Ky., Nov. 10 – Keppel Corp. Ltd. priced S$200 million floating-rate notes due 2029, according to a notice.
The series 016 notes are expected to be issued on or about Nov. 17 under the issuer’s $5 billion multicurrency medium-term note program.
The notes will bear interest at a floating rate based on compounded SORA plus an agreed spread and have a tenor of six years.
The company may redeem all or some of the notes at par, together with accrued interest, on each interest payment date, beginning with the interest payment date falling in November 2026.
DBS Bank Ltd. has been appointed as the lead manager for the offering.
Proceeds will be used for general corporate and working capital requirements, including refinancing existing debt.
The Singaporean conglomerate specializes in offshore and marine, property, infrastructure and asset management.
| Issuer: | Keppel Corp. Ltd.
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| Amount: | S$200 million
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| Issue: | Notes, series 016
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| Maturity: | 2029
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| Lead manager: | DBS Bank Ltd.
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| Coupon: | SORA plus a spread
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| Call features: | At par on interest payment date, beginning November 2026
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| Announcement date: | Nov. 10
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| Issue date: | Nov. 17
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