By Marisa Wong
Madison, Wis., Aug. 29 – Pacific Radiance Ltd. announced it issued S$100 million of 4.3% four-year notes at par on Friday.
The series 1 fixed-rate notes were issued under the company’s S$1 billion multicurrency debt issuance program established on Aug. 14.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. acted as the joint lead managers and joint bookrunners.
Proceeds will be used for capital expenditure, to finance investments, to refinance existing borrowings and for general working capital purposes.
The notes are expected to be listed on the Singapore exchange on Monday.
Pacific Radiance owns and operates offshore vessels and provides subsea services, shipyard services, marine equipment and project logistics to the oil and gas industry. The company is based in Singapore.
| Issuer: | Pacific Radiance Ltd.
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| Issue: | Fixed-rate notes, series 1
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| Amount: | S$100 million
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| Maturity: | Aug. 29, 2018
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| Coupon: | 4.3%
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| Price: | Par
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| Yield: | 4.3%
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| Bookrunners: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 29
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