By Marisa Wong
Madison, Wis., Feb. 24 - Singapore Post Ltd. announced that it priced S$350 million of 4¼% senior perpetual cumulative securities (A+/).
The distribution rate is payable semiannually and will be reset on March 2, 2022.
The securities are callable in whole or in part on March 2, 2022.
DBS Bank Ltd. is the bookrunner.
The company said it expects the securities to be rated A+ by Standard & Poor's upon issuance, which is expected to occur on March 2.
Proceeds will be used to finance new investments as part of the company's growth strategy and to fund capital expenditure and working capital requirements.
The company provides mail, logistics and retail solutions and is based in Singapore.
| Issuer: | Singapore Post Ltd.
|
| Issue: | Senior perpetual cumulative securities
|
| Amount: | S$350 million
|
| Maturity: | Perpetual
|
| Bookrunner: | DBS Bank Ltd.
|
| Coupon: | 4¼%, payable semiannually and reset on March 2, 2022
|
| Call option: | March 2, 2022
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 2
|
| Rating: | Standard & Poor's: A+
|
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