Seazen Group Limited (Stock Code: 1030) has announced that its subsidiary, New Metro Global Limited, plans to undertake an international offering of USD-denominated guaranteed senior notes. The notes will be guaranteed by Seazen Group Limited. Pricing details, including total principal, final offer price, and interest rate, will be determined through a book-building process led by joint global coordinators Citigroup Global Markets Limited and Haitong International Securities Company Limited.

According to the announcement, net proceeds from the proposed issuance are intended to fund a concurrent purchase offer for the 4.50% Guaranteed Senior Notes due 2026, refinance existing debt, and support general corporate needs. Approval in principle has been obtained from the Singapore Exchange Securities Trading Limited (SGX-ST) for listing the notes, a step not taken as an indication of the merits of the issuer or the notes. The proposed notes are expected to be rated B– by S&P, although this rating does not constitute an investment recommendation and may be subject to change.

Distribution and selling restrictions apply, with the offering structured to comply with Regulation S under the U.S. Securities Act. No public offering of the notes will take place in Hong Kong. In the United Kingdom, distribution is limited to relevant persons as defined under applicable regulations, and the offering is not directed at the general public. The announcement emphasizes that the proposed issuance may or may not proceed, and investors are urged to exercise caution. Further details will be released if and when the purchase agreement is finalized.