By Marisa Wong
Morgantown, W.Va., May 9 – Oxley Holdings Ltd. announced that wholly owned subsidiary Oxley MTN Pte. Ltd. has launched an up to S$150 million offering of 5.15% four-year retail bonds.
The company is offering up to S$125 million of the bonds to the public and up to S$25 million of the bonds to institutional and other investors through a placement.
The bonds will be issued at par.
DBS Bank Ltd. is the lead manager and bookrunner.
Applications for the bonds open at 9 p.m. ET on May 9 and close at midnight ET on May 15.
If either of the public offer or the placement is oversubscribed, the issuer may increase the size of the public offer or placement and redetermine the allocation of the bonds between the public offer and placement so that the maximum issue size is no more than S$300 million.
An application for bonds under the public offer is subject to a S$2,000 minimum principal amount.
The company reserves the right to cancel the offering if it receives less than S$25 million of applications for the bonds.
“Our latest retail bond offering enables the group to tap the current market which is receptive to quality bond issues. We believe our 5.15% four-year retail bonds present retail investors with an appealing investment proposition amid the relatively low interest rate environment,” Ching Chiat Kwong, Oxley’s executive chairman and chief executive officer, said in a press release.
Proceeds will be used for general corporate purposes, including refinancing of borrowings, and working capital and capital expenditure requirements.
The bonds are expected to be issued on May 18.
Oxley is a property developer based in Singapore.
| Issuer: | Oxley MTN Pte. Ltd.
|
| Issue: | Retail bonds
|
| Amount: | S$150 million (may be increased to up to S$300 million)
|
| Maturity: | Four years
|
| Bookrunner: | DBS Bank Ltd.
|
| Coupon: | 5.15%
|
| Price: | Par
|
| Yield: | 5.15%
|
| Offer period: | 9 p.m. ET on May 9 to midnight ET on May 15
|
| Settlement date: | May 18
|
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