By Marisa Wong
Madison, Wis., Oct. 31 - Overseas Union Enterprise Ltd. announced that it issued S$200 million of 4¼% seven-year notes on Tuesday.
Standard Chartered Bank was the lead manager.
The 4¼% notes were issued under the company's S$1 billion multicurrency medium-term note program established on Jan. 11, 2011. This is the fourth series of notes under the program. The previous three series totaled S$800 million.
The latest notes are callable after four years.
Proceeds will be used for general corporate funding purposes, refinancing existing bank borrowings and general working capital.
The notes are expected to be listed on the Singapore Stock Exchange on Oct. 31.
Overseas Union is a Singapore-based company specializing in hospitality services, property investment and investment holding.
| Issuer: | Overseas Union Enterprise Ltd.
|
| Issue: | Fixed-rate notes
|
| Amount: | S$200 million
|
| Maturity: | Oct. 30, 2019
|
| Coupon: | 4¼%, payable semiannually
|
| Call option: | In whole on any interest payment date; beginning in the fourth year redemption price is 102.125 from Oct. 30, 2016 to April 30, 2017; 101.0625 from Oct. 30, 2017 to April 30, 2018; and 100.53125 from Oct. 30, 2018 to April 30, 2019
|
| Manager: | Standard Chartered Bank
|
| Settlement date: | Oct. 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
