Straits Trading offers Singapore dollar secured exchangeable bonds

By Abigail W. Adams

Portland, Me., Jan. 30 – Straits Trading Co. Ltd. plans to price an offering of Singapore dollar-denominated secured exchangeable bonds in a Regulation S offering, according to a company news release.

The bonds will be exchangeable into shares of ESR Group Ltd. held by Straits Phoenix Pte. Ltd.

Goldman Sachs (Asia) LLC is sole global coordinator and bookrunner for the offering.

The bonds will be traded on the Singapore Exchange.

Proceeds will be used to refinance existing borrowings and for working capital, capital expenditures and investments of the group.

Straits Trading is a Singapore-based investment company.

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