Keong Hong launches S$50m medium term notes

KEONG Hong Holdings Limited has launched and priced its S$50 million medium term notes (Series 1 Notes) at 100 per cent of their principal amount in denominations of S$250,000.

These notes will bear a fixed interest of 6 per cent per annum payable semi-annually in arrear. They are part of its S$150 million multicurrency medium term note programme that was established on April 17.

The Hongkong and Shanghai Banking Corporation Limited has been appointed as sole bookrunner and lead manager for the Series 1 Notes, which are expected to be issued on June 15 and will mature on June 15, 2018.

The net proceeds arising from the issue of the Series 1 Notes will be used for general corporate purposes, including refinancing of existing borrowings, financing investments and acquisitions, capital expenditure requirements and the general working capital of the group.