By Mary-Katherine Stinson
Lexington, Ky., May 16 – Singapore Technologies Engineering Ltd. announced that its wholly-owned subsidiary STE TransCore Holdings, Inc. priced $500 million of 4 1/8% notes due May 23, 2026, according to a notice.
The notes were issued under the company’s S$5 billion multicurrency medium-term note program.
Proceeds will be used by STE TransCore for the purpose of refinancing its outstanding short-term U.S. commercial paper. The company expects interest expense of the notes to be reduced through the amortization of the unused treasury lock settlement gains on its balance sheet reserve.
The notes are expected to be listed on the Singapore Exchange Securities Trading Ltd., or SGX-ST, on May 24.
ST Engineering is a Singapore-based engineering group.
| Issuer: | STE TransCore Holdings, Inc.
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| Guarantor: | Singapore Technologies Engineering Ltd.
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| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | May 23, 2026
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| Coupon: | 4 1/8%
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| Pricing date: | May 16
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| Issue date: | May 23
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| Listing date: | May 24
|
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