By Marisa Wong
Madison, Wis., Aug. 10 - Keppel Telecommunications & Transportation Ltd. said it will issue S$120 million of fixed-rate notes due 2019.
United Overseas Bank Ltd. will be the lead manager and bookrunner for the notes.
The notes will be issued at par with a coupon of 2 5/8%. Interest will be payable semiannually.
The notes may be redeemed on each of the interest payment dates from Aug. 13, 2017 to Feb. 13, 2019. If the notes are not redeemed on Aug. 13, 2017, the interest rate will be reset to 3.825%.
Keppel expects to issue the notes on Aug. 13.
The notes will be issued under the company's S$500 million multicurrency medium-term note program established on June 29.
Net proceeds will be used to fund investments and for general corporate and working capital requirements.
Keppel Telecommunications is a subsidiary of Keppel Corp. Ltd., which is a Singapore-based company focused on offshore and marine property and infrastructure. The subsidiary offers services to logistics and data businesses.
| Issuer: | Keppel Telecommunications & Transportation Ltd.
|
| Issue: | Fixed-rate notes
|
| Amount: | S$120 million
|
| Maturity: | Aug. 13, 2019
|
| Coupon: | 2 5/8%, steps up to 3.825% if notes are not redeemed on Aug. 13, 2017; payable semiannually
|
| Price: | Par
|
| Yield: | 2 5/8%
|
| Call option: | On Aug. 13, 2017, Feb. 13, 2018, Aug. 13, 2018 and Feb. 13, 2019
|
| Bookrunner: | United Overseas Bank Ltd.
|
| Announcement date: | Aug. 10
|
| Settlement date: | Aug. 13
|
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