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Oxley unit prices S$150m 5.70% notes due in 2022 under US$1b note programme

A UNIT of Oxley Holdings has priced its S$150 million 5.70 per cent notes, which mature on Jan 31, 2022 under a US$1 billion guaranteed euro medium term note programme.

Under the programme, its subsidiary Oxley MTN may "issue medium term notes unconditionally and irrevocably guaranteed by the company".

The net proceeds from the issue of the notes are presently intended to be used for general corporate purposes and working capital requirements of the company and its subsidiaries,joint venture entities and associated entities, Oxley said in a filing with the Singapore Exchange (SGX) on Thursday morning.

The approval in-principle for the establishment of the notes programme has been granted by the Singapore bourse. An application for the listing and quotation of the notes will be made in due course, Oxley added.

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DBS Bank is the sole arranger of the programme. DBS, together with Credit Suisse and OCBC, is also joint bookrunner for the issuance of the notes.

Oxley Holdings units ended down S$0.005 or 0.7 per cent at S$0.715 on Wednesday.

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