By Marisa Wong
Madison, Wis., Aug. 22 - Malaysia's Nam Cheong Ltd. announced it priced S$90 million of 5% notes due 2017 under its S$200 million multicurrency medium-term note program.
Nam Cheong priced the series 2 notes at par on Aug. 21. Settlement is slated for Aug. 28.
DBS Bank Ltd. and DMG & Partners Securities Pte. Ltd. are the joint lead managers and bookrunners.
Proceeds will be used for general corporate purposes, including refinancing of existing borrowings, and for financing capital expenditure, investments and general working capital.
Nam Cheong is a Kuala Lumpur-based offshore marine group that specializes in building offshore support vessels.
| Issuer: | Nam Cheong Ltd.
|
| Issue: | Medium-term notes, series 2
|
| Amount: | S$90 million
|
| Maturity: | Aug. 28, 2017
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Bookrunners: | DBS Bank Ltd. and DMG & Partners Securities Pte. Ltd.
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 28
|
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