Aspial Corp to guarantee subsidiary's bond offering of up to S$75m

ASPIAL Corp said that it will provide an unconditional and irrevocable guarantee for an offering by its wholly-owned unit of up to S$75 million four-year bonds due 2020.

The bonds, which carry a rate of 5.30 per cent and will be issued by Aspial Treasury, comprise an offer of up to S$50 million in aggregate principal amount at the issue price of 100 per cent to the public in Singapore through electronic applications and up to S$25 million to institutional and other investors.

In an announcement to the Singapore Exchange, Aspial said the issue price of the bonds is S$1 per S$1 in principal amount of the bonds. The actual aggregate principal amount of the bonds to be allocated between the public offer and the placement will be finalised on or prior to the date of the bonds issue.

DBS Bank is the sole lead manager and bookrunner for the offer.

The Singapore Exchange had, on March 18, granted its in-principle approval for the listing and quotation of the bonds on the main board subject to certain conditions.