By William Gullotti
Buffalo, N.Y., Oct. 4 – Panther Ventures Ltd. issued S$300 million of 3.38% senior perpetual capital securities (A2/A) guaranteed by CK Asset Holdings Ltd., according to a listing notice on Monday.
The notes were sold at par.
The notes are not callable for the first three years. Starting Sept. 30, 2024, the issuer may call them in whole without restriction or in part, provided the outstanding aggregate principal amount at least S$200 million.
OCBC Bank is the lead manager and bookrunner for the offering.
The Regulation S securities will be listed on the Hong Kong Stock Exchange.
Proceeds will be used for the general corporate purposes of CK Assets and its subsidiaries.
CK Asset is a Hong Kong based multi-national conglomerate.
| Issuer: | Panther Ventures Ltd.
|
| Guarantor: | CK Asset Holdings Ltd.
|
| Issue: | Guaranteed senior perpetual capital securities
|
| Amount: | S$300 million
|
| Maturity: | Perpetual
|
| Bookrunner: | OCBC Bank
|
| Counsel to issuer/guarantor: | Maples and Calder (Hong Kong) LLP
|
| Counsel to lead manager: | Clifford Chance
|
| Distribution: | 3.38%
|
| Price: | Par
|
| Yield: | 3.38%
|
| Call features: | Non-callable until Sept. 30, 2024; then in whole or in part without restriction, so long as there are S$200 million outstanding in the case of a partial redemption
|
| Pricing date: | Sept. 23
|
| Issue date: | Sept. 30
|
| Rating: | Moody’s: A2
|
| S&P: A
|
| Distribution: | Regulation S
|
| ISIN: | SGXF25764691
|
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