Maxi-Cash Financial Services announces launch and pricing of notes

MAXI-Cash Financial Services Corporation announced the launch and pricing of its S$50 million 5.5 per cent notes due 2020 to be issued under its S$300 million Multicurrency Medium Term Note Programme.

The Series 001 notes will be issued at an issue price of 100 per cent of their principal amount and in denominations of S$250,000. They will bear interest at a fixed rate of 5.5 per cent per annum payable semi-annually in arrear. The notes are expected to be issued on April 27, subject to the satisfaction of customary closing conditions, and mature on April 27, 2020.

DBS Bank has been appointed as the sole lead manager and bookrunner in relation to the Series 001 Notes.

The net proceeds arising from the issue of the Series 001 Notes (after deducting issue expenses) will be used for general corporate purposes.