By Christine Van Dusen
Atlanta, Jan. 27 - Singapore's United Envirotech Ltd. priced a S$35 million increase of its existing 7¼% notes due Sept. 2, 2016 at 100.5 to yield 7.03%, a market source said.
Standard Chartered Bank was the bookrunner for the Regulation S deal.
The original issue of S$50 million notes priced on Sept. 3 at par, and a S$50 million increase priced in October at par.
As previously noted, the fixed-rate notes were issued under United Envirotech's $300 million multicurrency medium-term note program established on June 13, 2013.
Proceeds will be used to refinance debt, for investments and acquisitions and for general working capital and corporate purposes.
The Singapore-based environmental solutions company focuses on water and wastewater treatment.
Issuer: | United Envirotech Ltd.
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Amount: | S$35 million
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Maturity: | Sept. 2, 2016
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Description: | Senior notes
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Bookrunner: | Standard Chartered Bank
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Coupon: | 7¼%
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Price: | 100.5
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Yield: | 7.03%
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Change-of-control put: | At 101%
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Trade date: | Jan. 27
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Distribution: | Regulation S
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Original issue: | S$50 million priced on Sept. 3 at par
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Previous add-on: | S$50 million priced at par in October
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