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Pacific International Lines selling 3-year bonds

PACIFIC International Lines (PIL) is selling 3-year bonds.

The expected size of the issue is S$100 million with some room to grow, said Clifford Lee, DBS Bank head of fixed income.

"The issue is progressing well and we just released the final price and size guidance on the trade," said Mr Lee.

The final price guidance is 7.25 per cent.

Banks handling the deal are Credit Suisse, DBS Bank and Standard Chartered Bank.

Last year, PIL sold a 3-year S$300 million 5.9 per cent issue.