Aspial to issue S$50m 6.5% 3-year notes at par
ASPIAL Corporation, which sells jewellery and develops property, on Monday said it is offering S$50 million worth of three-year notes at par.
The notes, which will mature on March 20, 2023, will have a fixed coupon rate of 6.5 per cent per annum, payable semi-annually in arrear.
The notes are in denominations of S$250,000 each and are expected to be issued on March 20, 2020.
Proceeds will be used for refinancing of existing borrowings and general corporate purposes, Aspial said in a bourse filing.
The Series 007 notes will be issued under the company's S$700 million multi-currency debt issuance programme.
Certain controlling shareholders of Aspial and/or entities and/or persons related to them have been allocated about 87.5 per cent of the entire issue of Series 007 notes, said the company. This makes them substantial holders.
SEE ALSO
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
DBS Bank and OCBC have been appointed as joint lead managers and bookrunners.
Shares of mainboard-listed Aspial closed down 0.4 Singapore cent or 2.5 per cent to 15.5 cents on Monday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Paramount will let exclusive talks with Skydance lapse: NYT
Citi says European authorities are scrutinising 2022 flash crash
Tech platforms make pitch for ad deals as TikTok is roiled by politics
Expedia shares sink as vacation rental weakness fuels revenue forecast trim
Oil settles down on US jobs data, steepest weekly loss in three months
Europe: Shares end higher on tech support; banks slide