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.
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Guarantor: | PSA International Pte. Ltd.
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Issue: | Notes
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Amount: | $500 million
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Maturity: | 10 years
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Bookrunners: | DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch
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Coupon: | 2 1/8%
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Price: | 99.081
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Announcement date: | Aug. 29
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Settlement date: | Sept. 5
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Rating: | Moody’s: Aa1
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Distribution: | Regulation S
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