ST Engineering announced after market close on Tuesday (April 29) that its wholly-owned subsidiary, ST Engineering RHQ, will issue bonds totaling 750 million (approximately S981 million). These bonds are part of the company’s S$5 billion global medium-term note program.
The bonds are expected to be issued on May 8, with an annual coupon rate of 4.25% and a maturity date of May 8, 2030. Interest will be paid annually at a fixed rate. The bonds will be issued in denominations of 200,000andmultiplesof1,000 thereafter.
ST Engineering stated that the net proceeds from the issuance will be used to refinance existing debt. The bonds are primarily targeted at institutional and qualified investors. The company will apply for listing and trading approval on the Singapore Exchange (SGX), with trading expected to commence on May 9.
As of 10:00 a.m., ST Engineering’s stock price remained unchanged at S$7.32.
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