Keppel prices S$250m notes due 2025

KEPPEL Corporation has priced S$250 million worth of five-year notes, at 2.25 per cent per annum. 

The notes are expected to be issued on or about April 20, 2020 and are expected to be listed on the Singapore bourse on, or about the following business day after the issuance.

Application has been made to the Singapore Exchange Securities Trading for permission to deal in, and for quotation of the notes, Keppel said in a bourse filing late on Monday night. 

Net proceeds from the issuance will be used by Keppel for general corporate, or working capital purposes including refinancing of existing loans, the company added. 

The notes will be issued under Keppel's US$5 billion multi-currency medium term note programme. 

DBS Bank has been appointed as the sole lead manager of the notes.

Keppel Corp shares closed at S$5.60 on Monday, down S$0.12 or 2.1 per cent, before this announcement.