By Marisa Wong
Los Angeles, Aug. 29 – PSA International Pte. Ltd.’s wholly owned subsidiary, PSA Treasury Pte. Ltd., priced $500 million of 2 1/8% notes due 2029 at 99.081, according to a notice.
The notes (Aa1) are guaranteed by PSA International.
DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch are the joint lead managers and bookrunners for the Regulation S offering.
Proceeds will be used to finance capital and operating expenditures and for general corporate purposes.
The notes are expected to be issued on Sept. 5 under the company’s $3.5 billion global medium-term note program established in 2009.
PSA is a port operator based in Singapore.
| Issuer: | PSA Treasury Pte. Ltd.
|
| Guarantor: | PSA International Pte. Ltd.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | 10 years
|
| Bookrunners: | DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch
|
| Coupon: | 2 1/8%
|
| Price: | 99.081
|
| Announcement date: | Aug. 29
|
| Settlement date: | Sept. 5
|
| Rating: | Moody’s: Aa1
|
| Distribution: | Regulation S
|
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