By Marisa Wong
Morgantown, W.Va., Nov. 23 – Midas Holdings Ltd. issued $60 million of notes in two series, according to company announcements.
The company sold $30 million of 7% one-year series 003 notes and $30 million of 7% two-year series 004 notes.
Both series of notes were sold at par.
DBS Bank and HSBC are the dealers for the issues.
The notes were issued under the company’s S$500 million multicurrency medium-term note program established in October 2013.
Proceeds will be used to refinance existing borrowings.
Midas is a Singapore-based manufacturer of aluminum alloy extruded products for the rail transportation sector.
| Issuer: | Midas Holdings Ltd.
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| Issue: | Fixed-rate notes, series 003 and 004
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| Amount: | $60 million
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| Dealers: | DBS Bank, HSBC
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| Announcement date: | Nov. 23
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| Series 003
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| Amount: | $30 million
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| Maturity: | One year
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| Coupon: | 7%
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| Price: | Par
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| Yield: | 7%
|
|
|
| Series 004
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| Amount: | $30 million
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| Maturity: | Two years
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
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