Keppel prices 70 million euros of floating-rate notes due 2031
Net proceeds from the issue will be used for general corporate and working capital purposes
MAINBOARD-LISTED Keppel on Friday (Apr 26) said it will be offering 70 million euros (S$102.2 million) in floating-rate notes due 2031.
The notes will bear interest at a floating rate based on the 6-month Euro Interbank offered rate plus an agreed spread, payable semi-annually in arrear. It will have a tenor of seven years.
The notes are expected to be issued on or around May 8, as part of Keppel’s US$5 billion multi-currency medium term note programme.
Net proceeds from the issue will be used by the asset manager for general corporate and working capital purposes, said Keppel.
Mizuho Securities Asia has been appointed as the dealer.
Keppel on Thursday reported a 6.3 per cent fall in revenue to S$1.5 billion for the first quarter of 2024, compared to S$1.6 billion in the previous corresponding period.
Shares of Keppel slipped 0.3 per cent or S$0.02 to close at S$6.84 on Friday, before the announcement.
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