By Marisa Wong
Morgantown, W.Va., Aug. 25 – Keppel Telecommunications & Transportation Ltd. announced it priced S$100 million of seven-year fixed-rate notes at par with an initial coupon of 2.85%.
The notes are callable on any semiannual interest payment date after five years. If the notes are not redeemed on the first call date, Sept. 5, 2022, the interest rate will be reset to 3.85%.
Standard Chartered Bank is the lead manager.
The notes will be issued under the company’s S$500 million multicurrency medium-term note program established in June 2012.
Proceeds will be used to fund investments and for general corporate and working capital requirements.
Keppel T&T is a subsidiary of Keppel Corp. Ltd., a Singapore company specializing in marine, property and infrastructure businesses.
| Issuer: | Keppel Telecommunications & Transportation Ltd.
|
| Issue: | Fixed-rate notes
|
| Amount: | S$100 million
|
| Maturity: | Sept. 5, 2024
|
| Manager: | Standard Chartered Bank
|
| Coupon: | 2.85%; resets to 3.85% if not called on Sept. 5, 2022
|
| Price: | Par
|
| Call option: | Semiannually beginning Sept. 5, 2022
|
| Announcement date: | Aug. 25
|
| Settlement date: | Sept. 5
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