Valuemax prices S$50 million notes due 2018 at 5.5%

VALUEMAX Group has priced its S$50 million fixed notes due 2018 at 5.5 per cent.

The notes, to be issued under its S$300 million multi-currency medium term note programme, was established on April 22 this year.

They will be issued at par value, and in denominations of S$250,000. The notes will bear interest at 5.5 per cent each year, payable half-yearly.

The net proceeds from the debt issue will be used for general corporate purposes, including refinancing of existing borrowings and financing of investments, acquisitions and general working capital, said Valuemax.

The notes are expected to be issued on June 6, and will mature on the same date two years later.

The firm's CEO and controlling shareholder, Yeah Hiang Nam, and his family will be subscribing for 45.5 per cent, or S$22.75 million, of the notes.