By Marisa Wong
Madison, Wis., Oct. 21 – Swiber Holdings Ltd. announced that wholly owned special purpose vehicle Swiber Capital Pte. Ltd. priced S$50 million of 6¼% series 002 trust certificates at par.
The three-year trust certificates will be issued under Swiber Capital’s $500 million multicurrency Islamic trust certificates issuance program.
DMG & Partners Securities Pte. Ltd. is the bookrunner and lead manager.
The company set price talk in the low-to-mid-6% area for the Regulation S sukuk, according to a market source on Monday.
Proceeds will be used mainly to refinance existing borrowings. Remaining funds will be used for financing working capital and general corporate purposes.
The issue date is expected to be on Oct. 30.
Swiber is a Singapore-based offshore oil and gas company.
| Issuer: | Swiber Capital Pte. Ltd.
|
| Issue: | Fixed-rate Islamic trust certificates, series 002
|
| Amount: | S$50 million
|
| Maturity: | Three years
|
| Distribution rate: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Bookrunner: | DMG & Partners Securities Pte. Ltd.
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 30
|
| Distribution: | Regulation S
|
| Price talk: | Low-to-mid-6% area
|
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