By Wendy Van Sickle
Columbus, Ohio, May 15 – Wing Tai Holdings Ltd. priced S$150 million of senior perpetual capital securities, according to a notice.
The distribution rate is 4.48% initially and will reset on May 24, 2024
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the joint lead managers and bookrunners for the Regulation S offering.
Proceeds will be used to further the company’s business activities, including financing expansion and general working capital.
The securities are expected to be issued on May 24.
Wing Tai is a Hong Kong-based property developer.
| Issuer: | Wing Tai Holdings Ltd.
|
| Issue: | Senior perpetual capital securities
|
| Amount: | S$150 million
|
| Maturity: | Perpetual
|
| Bookrunners: | DBS Bank Ltd. (global coordinator) and Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 4.48% initially, resets on May 24, 2024
|
| Announcement date: | May 15
|
| Settlement date: | May 24
|
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