By Christine Van Dusen
Atlanta, May 24 - Singapore's Banyan Tree Holdings Ltd. priced a S$50 million issue of 6¼% notes due May 30, 2017 at par, a market source said.
HSBC was the bookrunner for the notes, which are non-callable for three years.
The size of the offering was increased from S$30 million due to strong investor demand.
The series 006 notes will be issued under the company's S$400 million multicurrency medium-term note program established Oct. 18, 2007. Upon completion of the offering, the total outstanding notes under the program will be S$200 million.
Proceeds will be used to finance the company's general working capital, capital expenditure and investment requirements.
Banyan Tree is a Singapore-based manager and developer of premium resorts, hotels and spas in the Asia Pacific.
| Issuer: | Banyan Tree Holdings Ltd.
|
| Amount: | S$50 million
|
| Maturity: | May 30, 2017
|
| Description: | Notes
|
| Bookrunner: | HSBC
|
| Coupon: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Call features: | Non-callable for three years
|
| Trade date: | May 17
|
| Settlement date: | May 30
|
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