By Marisa Wong
Morgantown, W.Va., Sept. 5 – Keong Hong Holdings Ltd. said it priced S$85 million of 5¾% four-year notes at par.
The series 2 notes will be issued under the company’s S$150 million multicurrency medium-term note program.
HSBC is the bookrunner and lead manager for the series 2 notes and the arranger of the MTN program.
Proceeds will be used for general corporate purposes like refinancing existing borrowings, financing investments and acquisitions, capital expenditure requirements and general working capital.
On Aug. 22, the company had disclosed plans to offer at least S$50 million of new series 2 notes alongside a separately announced tender offer and consent solicitation for its 6% series 1 notes due 2018.
The company said before that it expects to issue the new series 2 notes prior to the settlement date of the tender offer. On Tuesday, the company said it expects to issue the series 2 notes on Sept. 15.
Keong Hong is a construction company based in Singapore.
| Issuer: | Keong Hong Holdings Ltd.
|
| Issue: | Medium-term notes, series 2
|
| Amount: | S$85 million
|
| Maturity: | Sept. 15, 2021
|
| Bookrunner: | HSBC
|
| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Settlement date: | Sept. 15
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
