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Oxley unit to issue S$75m notes with 6.5% coupon

OXLEY Holdings' wholly-owned subsidiary, Oxley MTN, has priced its new S$75 million, three-year notes at 6.5 per cent.

The notes will mature on Feb 28, 2023, the mainboard-listed property developer announced on Monday night.

They are unconditionally and irrevocably guaranteed by Oxley, and launched under the subsidiary’s US$1 billion guaranteed euro medium-term note programme.

Net proceeds from the deal will be used for general corporate purposes – including to refinance borrowings – and working capital requirements of Oxley, its subsidiaries, its joint venture entities and its associated entities.

Application will be made to list and quote the new notes on the Singapore Exchange.

Credit Suisse (Singapore) and DBS Bank were appointed as joint bookrunners for the deal.

Shares of Oxley fell S$0.01 or 2.9 per cent to close at S$0.335 on Monday, before the announcement.