Singapore's Parkway Holdings sets pricing for redemption of S$150 million fixed-rate notes

By Reshmi Basu

New York, June 29 - Parkway Holdings Ltd. announced pricing for its planned recemption of S$150 million of its fixed-rate notes, which were issued under the company's S$500 million medium-term note program.

The company said it would prepay S$75 million in series 22 2.45% fixed-rate notes due Oct. 1, 2007 at 98.54.

The issuer will also redeem S$75 million in series 23 3.10% fixed-rate notes due Oct. 1, 2009 at 98.159.

The price was set using the yield on maturity equivalent to the interpolated swap offer rate minus 12 basis points.

Citigroup was the financial adviser.

Bondholders will be asked to approve the redemption at a meeting on July 6.

Parkway Holdings, based in Singapore, is a health care organization whose principal activities include the operation of private hospitals and the rental and sale of medical units in Asia.

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