Chip Eng Seng's S$150m notes issue well received
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Nisha Ramchandani
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Singapore
CONSTRUCTION and property group Chip Eng Seng Corporation has seen strong demand for its S$150 million fixed-rate notes, which are being issued under its S$500 million multi-currency debt-issuance programme.
The final order books stood at over S$600 million due to robust interest from Singapore-based investors such as private banks, fund managers and banks. As a result, it was able to price the new issue at 4.25 per cent per annum, payable semi-annually. This is 0.25 per cent inside the initial guidance.
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