PSA to issue US$500m 10-year bonds at 2.5%

PSA International will issue on April 12 US$500 million bonds due 2026 at a coupon rate of 2.5 per cent.

The 10-year notes, to be issued under the Singapore port operator's US$3.5 billion Global Medium Term Note Programme established in August 2009, are unconditionally and irrevocably guaranteed by PSA.

Proceeds from the bonds will be used to finance capital and operational expenditure, and for general corporate purposes, PSA said.

DBS Bank and the Singapore branch of Deutsche Bank are the joint lead managers and bookrunners for the notes.