New York, May 16 – Oxley Holdings Ltd. said wholly owned subsidiary Oxley MTN Pte. Ltd. added another S$20 million to the placement tranche of its 5.15% four-year bonds, raising it to S$70 million.
The increase was due to reverse inquiry, according to a company notice.
The public portion was correspondingly reduced to S$80 million from S$100 million, maintaining the overall size at S$150 million.
Both the placement and the public offer closed on May 16, according to the notice.
At that time, applications for S$89,205,000 had been received in the public offer.
Oxley has the option to increase the total size to S$300 million and will announce any upsizing.
Originally the offering was to be divided into S$125 million of notes in the public offer and up to S$25 million of notes in the placement tranche for institutional, private banking and other investors.
On May 10 it increased the placement tranche and reduced the public portion.
DBS Bank Ltd. is the lead manager and bookrunner.
Proceeds will be used for general corporate purposes, including refinancing of borrowings, and working capital and capital expenditure requirements.
An application for bonds under the public offer is subject to a S$2,000 minimum principal amount.
The bonds are expected to begin trading on the Singapore Exchange Securities Trading Ltd. on May 18.
Oxley is a property developer based in Singapore.
| Issuer: | Oxley MTN Pte. Ltd.
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| Issue: | Bonds
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| Amount: | S$150 million (may be increased to up to S$300 million)
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| Maturity: | Four years
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| Bookrunner: | DBS Bank Ltd.
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| Coupon: | 5.15%
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| Price: | Par
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| Yield: | 5.15%
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| Announcement date: | May 9
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| Settlement date: | May 18
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