By William Gullotti
Buffalo, N.Y., Jan. 18 – Straits Trading Co. Ltd. has priced S$130 million of 4.7% series 005 notes due 2029 at par, according to a Thursday notice.
DBS Bank Ltd. and United Overseas Bank Ltd. are the joint lead managers and bookrunners of the issue, which is being made under the company’s S$500 million multicurrency debt issuance program, updated July 3, 2017.
Proceeds will be used for general corporate purposes, including refinancing of existing borrowings and the finance of working capital and capital expenditure requirements of the issuer and its subsidiaries.
Listing for the notes is expected on the Singapore Exchange on Jan. 25.
The Singapore-based company engages in tin mining, smelting and resource investments. It also owns properties and hotels.
| Issuer: | Straits Trading Co. Ltd.
|
| Amount: | S$130 million
|
| Issue: | Series 005 notes
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| Maturity: | Jan. 24, 2029
|
| Bookrunners: | DBS Ltd. and United Overseas Bank Ltd.
|
| Coupon: | 4.7%
|
| Price: | Par
|
| Yield: | 4.7%
|
| Announcement date: | Jan. 18
|
| Issue date: | Jan. 24
|
| Listing date: | Jan. 25
|
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