By Christine Van Dusen and Toni Weeks
Atlanta, April 24 - Singapore's Courts Asia Ltd. priced S$125 million 4¾% notes due May 2, 2016 at par, a market source said.
DBS and HSBC were the bookrunners for the transaction.
The deal is part of a S$500 million multicurrency debt issuance program under which Courts Asia plans to issue securities, including notes and perpetual securities, in series or tranches from time to time. The securities will be issued in Singapore dollars or in other currencies in various amounts and tenors, and they may carry a fixed-, floating-, variable- or hybrid-rate coupon or, alternatively, no coupon.
The securities will be offered based on exemptions invoked under sections 274 and/or 275 of the Securities and Futures Act, chapter 289, of Singapore, the notice said.
Proceeds will be used for repaying existing borrowings or financing general corporate purposes.
Courts Asia has applied to the Singapore Exchange Securities Trading Ltd. for securities to be admitted to the official list and subsequent listing on the SGX-ST, the notice stated.
The Singapore-based company is a retailer of household furniture and electronics.
| Issuer: | Courts Asia Ltd.
|
| Amount: | S$125 million
|
| Maturity: | May 2, 2016
|
| Description: | Notes
|
| Bookrunners: | DBS, HSBC
|
| Coupon: | 4¾%
|
| Price: | Par
|
| Yield: | 4¾%
|
| Trade date: | April 24
|
| Settlement date: | May 2
|
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