By Susanna Moon
Chicago, Aug. 26 - Neptune Orient Lines Ltd. said it will issue S$280 million of 4.65% notes due 2020 under its $1.5 billion euro medium-term note program.
The notes are callable beginning Sept. 9, 2015.
DBS Bank Ltd. is the lead manager and bookrunner.
Proceeds will be swapped into U.S. dollars from Singapore dollars and used to help finance the order for a total of 12 new container ships.
Neptune has applied to list the notes on the Singapore Exchange Securities Trading Ltd.
The company said it established the MTN program on June 28 with proceeds to be used for general corporate purposes.
DBS Bank, Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank were the arrangers of the program.
Neptune Orient Lines is a Singapore investment holding company.
| Issuer: | Neptune Orient Lines Ltd.
|
| Issue: | Notes
|
| Amount: | S$280 million
|
| Maturity: | 2020
|
| Coupon: | 4.65%
|
| Price: | Par
|
| Yield: | 4.65%
|
| Call: | Beginning Sept. 9, 2015
|
| Bookrunner: | DBS Bank Ltd.
|
| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 9
|
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