Chicago, Dec. 6 – Chip Eng Seng Corp. Ltd.’s CES Treasury Pte. Ltd. issued S$120 million 6˝% notes due Dec. 6, 2024, according to an announcement.
The total consisted of S$71.25 million of notes issued in exchange for notes from a recent exchange offer and S$48.75 million of new additional notes.
The notes are unconditionally and irrevocably guaranteed by Chip Eng.
The series 005 notes are being issued under CES’ S$750 million multicurrency debt issuance program.
DBS Bank Ltd. handled both the exchange offer and the sale of the additional notes.
Proceeds will be used for general corporate purposes, including refinancing existing borrowings, financing investments and for the general working capital purposes of the group.
Chip Eng Seng is a Singapore construction and property development company.
| Issuer: | CES Treasury Pte. Ltd.
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| Guarantor: | Chip Eng Seng Corp. Ltd.
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| Amount: | S$120 million
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| Issue: | Notes
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| Maturity: | Dec. 6, 2024
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| Bookrunner: | DBS Bank Ltd.
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| Coupon: | 6˝%
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| Settlement date: | Dec. 6
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| ISIN: | SGXF86596040
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