GSH prices S$30m two-year notes at 5.2%
GSH Corporation has priced its S$30 million two-year notes at a fixed annual interest rate of 5.20 per cent, it said on Thursday.
The notes are expected to be issued on Sept 17 and will mature on Oct 21, 2022.
They form Tranche 2 of GSH's Series 4 notes due 2022 under the company's S$800 million, multicurrency, medium-term note programme established in 2016. This issuance will be consolidated with the first S$50 million tranche of Series 4 notes, also due 2022, which were issued last October.
DBS Bank has been appointed as dealer for the Series 4 Tranche 2 notes.
The net proceeds from the 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 notes together with interest accrued to the date fixed for redemption, on the date falling 30 days from the date of the notice.
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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.
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