Aspial Corporation Limited managed to raise net proceeds of S$146.7 million from its maiden retail bond offering, which it said saw overwhelming interest from investors.
The offer had a subscription rate of approximately 3.9 times of the original offer size of S$75 million, the group said on Thursday.
Its public tranche, which was open to the public from Aug 19 to 26, received about S$217.3 million of valid applications, representing a subscription rate of 8.7 times of the S$25 million of bonds being offered under the public offer after re-allocation. In view of the strong interest, the issue size under the public offer was increased to the maximum of S$100 million.
The placement tranche that closed earlier on Aug 19, received a subscription rate of 3 times.
These five-year bonds come with 5.25 per cent interest. They will be guaranteed by Aspial and issued by its wholly-owned subsidiary, Aspial Treasury Pte Ltd. DBS Bank Ltd is the sole lead manager and bookrunner for the offer.