Centurion's $100m 5.25% notes issue two times subscribed

SINGAPORE'S only listed workers dormitory operator, Centurion Corporation, issued its inaugural $100 million 5.25 per cent notes due 2016 yesterday. The offering was close to two times subscribed.

The three-year notes were issued under Centurion's $300 million, multi-currency medium-term note (MTN) programme established on Sept 6.

Centurion's chief executive officer Kong Chee Min, noting the strong demand from institutional investors and private banking accounts, said: "We are delighted to see that our inaugural notes were well received by the investment community despite the recent market uncertainties. The proceeds from this notes issue will enable us to carry on our expansion initiatives in Singapore and the region."