Metro Holdings launches S$150m in 4% notes due 2021

METRO Holdings has launched and priced S$150 million in 4 per cent notes due 2021, it announced on Wednesday. These Series 001 Notes will be issued under an earlier-announced S$1 billion multicurrency debt issuance programme, established on Oct 4.

The notes, in S$250,000 denominations, are expected to be issued on Oct 25 subject to the satisfaction of customary closing conditions, and listed on the Singapore Exchange on the following market day.

Metro said the net proceeds from this issue will be used for general corporate purposes, including without limitation, financing investments, acquisitions and capital expenditure, refinancing of existing borrowings and general working capital requirements of the company or its subsidiaries, joint ventures and associates.

DBS Bank has been appointed the sole lead manager and bookrunner for the Series 001 notes.

Metro Holdings shares closed up one Singapore cent or 0.9 per cent at S$1.09 on Wednesday.