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Oxley's placement of 4-year 5.15% bonds oversubscribed within one day

PROPERTY developer Oxley Holdings on Wednesday said that its retail bond offering of four-year 5.15 per cent retail bonds to private banking, institutional and other investors has been oversubscribed within the first day of its launch.

"Within a day of launching the offer of the bonds on May 10, 2016 to the public in Singapore and to private banking, institutional and other investors, the placement received valid applications of more than S$25 million in aggregate principal amount of bonds," it said.

In view of the strong interest received, S$25 million in principal amount was reallocated from the public offer of up to S$125 million to the placement.

With this, S$50 million and S$100 million of bonds are now being offered under the placement and the public offer, respectively.

The closing date for applications for the bonds under the public offer is May 16 at 12 noon.

The bonds are expected to be issued on May 18 and will start trading on the main board of the Singapore Exchange on May 19.