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GSH Corp prices S$50m 3-year notes at 5.2%

GSH Corp has priced its S$50 million three-year notes at a fixed annual interest of 5.20 per cent, it said on Monday.

The Series 4 notes are expected to be issued on Oct 21 and will mature on Oct 21, 2022.

The issuance is part of the company's S$800 million multicurrency medium-term note programme established in 2016. 

DBS Bank is the sole global coordinator for the notes, and joint bookrunner together with Maybank Kim Eng Securities.

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The net proceeds from the notes issuance will be used for general corporate purposes, including refinancing of borrowings, financing investments, general working capital and capital expenditure requirements of the company and its subsidiaries.

Under the deal terms, if a change of shareholding event occurs, GSH will, at the option of any noteholder, redeem the Series 4 notestogether with interest accrued to the date fixed for redemption, on the date falling 30 days from the date of the notice.

A change of shareholding event occurs when GSH executive chairman Sam Goi Seng Hui and his immediate family members cease to own at least 35 per cent of GSH.