Jurong Shipyard sells longer dated bonds
S$275m tranche has tenure of 7 years; S$325m tranche has 15-year duration
JURONG Shipyard, a wholly owned unit of Sembcorp Marine, has sold S$600 million bonds, with one tranche having a 15-year tenure, a long duration not seen in recent years for non-bank corporate issuers.
The debt issue by Jurong Shipyard offered two tenures - seven years for S$275 million and 15 years for S$325 million. Both the tranches received orders in excess of S$400 million.
Growing demand for longer-dated bonds meant Jurong could price at the lower end of its initial guidance.
The S$275 million seven-year bonds were priced at 2.95 per cent and the S$325 million 15-year bonds were priced a…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Sanofi Q1 profit slips on generic competition, forex effects
Toyota hits record annual output, sales on robust demand
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Nissan, Mazda roll out new models for China as they aim for comeback
South Korea readies new system to detect illegal short-selling