By Marisa Wong
Morgantown, W.Va., Oct. 10 – Vibrant Group Ltd. said it issued S$36.5 million of additional 7˝% notes due 2020 to be consolidated to form a single series with the S$29.5 million of 7˝% notes due 2020 issued on Oct. 3.
DBS Bank Ltd. and United Overseas Bank Ltd. are the joint lead managers and bookrunners for the series 003 tranche 002 notes.
The second tranche was priced at par plus accrued interest from and including Oct. 3 to but excluding Oct. 10.
Proceeds will be used for general corporate purposes, including refinancing borrowings, financing investments and general working capital.
As previously reported, the first-tranche notes were issued through an exchange offer that began on Sept. 13 and ended on Sept. 28. Vibrant offered to exchange its existing 7.35% perpetual notes for the new 7˝% notes due 2020.
Formerly known as Freight Links Express Holdings Ltd., Vibrant is a logistics, real estate and financial services group based in Singapore.
| Issuer: | Vibrant Group Ltd.
|
| Issue: | Notes, series 003 tranche 002
|
| Amount: | S$36.5 million
|
| Maturity: | 2020
|
| Bookrunners: | DBS Bank Ltd. and United Overseas Bank Ltd
|
| Coupon: | 7˝%
|
| Price: | Par plus accrued interest from and including Oct. 3 to but excluding Oct. 10
|
| Settlement date: | Oct. 10
|
| Original issue: | S$29.5 million issued on Oct. 3
|
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