Singapore’s Keong Hong to offer S$50 million medium-term notes

By Marisa Wong

Morgantown, W.Va., Aug. 22 – Keong Hong Holdings Ltd. said it plans to offer at least S$50 million of new medium-term notes alongside a separately announced tender offer and consent solicitation.

On Tuesday the company launched a tender offer and consent solicitation for its 6% series 1 notes due 2018.

The company said it expects to issue the new series 2 notes prior to the settlement date of the tender offer.

The series 2 notes will be issued under the company’s S$150 million multicurrency MTN program.

Proceeds will be used to finance the payment of consent fees, the aggregate purchase price and tender premiums for the series 1 notes as well as the redemption of any series 1 notes that remain outstanding after the tender offer. Proceeds may also be used for general corporate purposes like refinancing existing borrowings, financing investments and acquisitions, capital expenditure requirements and general working capital.

Keong Hong is a construction company based in Singapore.

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