Hyflux offers S$300m perpetual securities

Singapore

HYFLUX has launched an offer of perpetual capital securities of up to S$300 million.

The securities carry a distribution rate of 6 per cent per annum for the first four years, payable in arrear half-yearly in May and November of each year, with the first distribution on Nov 27. The rate is subject to reset/step-up from and including May 27, 2020, and every four years thereafter.