By Cady Vishniac
Detroit, Nov. 24 – Aviva plc’s Singapore subsidiary, Aviva Singlife Holdings Pte. Ltd., has issued S$550 million of fixed reset subordinated 3 3/8% notes due 2031, according to a notice.
The lead managers and bookrunners of the notes are Standard Chartered Bank (Singapore) Ltd. and DBS Bank Ltd.
Proceeds will be used to fund the merger that is creating the issuer and will also be used for capital-adequacy purposes, according to Fitch Ratings.
Aviva is a life insurance provider based in London. Aviva Singlife Holdings Pte. Ltd. is a Singapore-based subsidiary which is being formed from the merger of Singapore Life Pte. Ltd. and Aviva Ltd.
| Issuer: | Aviva Singlife Holdings Pte. Ltd.
|
| Issue: | Fixed reset subordinated notes
|
| Amount: | S$550 million
|
| Maturity: | 2031
|
| Bookrunners: | Standard Chartered Bank (Singapore) Ltd. and DBS Bank Ltd.
|
| Coupon: | 3 3/8%
|
| Issue date: | Nov. 24
|
| Listing date: | Nov. 25
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
|
|
© 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.
