Published on 11/17/2015 in the Prospect News Emerging Markets Daily.
New Issue: Singapore’s SP PowerAssets sells $700 million 3¼% notes due 2025 at 98 bps spread
By Christine Van Dusen
Atlanta, Nov. 17 – Singapore’s SP PowerAssets Ltd. priced $700 million 3¼% 10-year notes (expected ratings: Aa2/AA/) on Tuesday at 99.754 to yield Treasuries plus 98 basis points, a market source said.
Deutsche Bank and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
Based in Mapletree Business City, Singapore, SP PowerAssets is a member of Singapore Power Group, which provides electricity and gas transmission and distribution services.
| Issuer: | SP PowerAssets Ltd.
|
| Amount: | $700 million
|
| Maturity: | Nov. 24, 2025
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, Morgan Stanley
|
| Coupon: | 3¼%
|
| Price: | 99.754
|
| Spread: | Treasuries plus 98 bps
|
| Trade date: | Nov. 17
|
| Settlement date: | Nov. 24
|
| Expected ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Distribution: | Rule 144A and Regulation S
|
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