Wing Tai establishes S$1 billion multicurrency debt issuance programme

WING Tai Holdings has established a S$1 billion multicurrency debt issuance programme, and plans to use the net proceeds for general working capital and investments, as well as refinancing existing borrowings.

The property developer and fashion retailer on Wednesday (Mar 6) said that it may issue perpetual securities and notes denominated in Singapore dollars or any other currency, in various amounts and tenors, at fixed, floating, variable or hybrid interest rates. They may also not bear any interest.

The debt issuance programme has obtained in-principle approval from the Singapore Exchange. HSBC is the arranger and dealer of the facility.

Wing Tai shares were 0.7 per cent higher at S$1.41 at market close on Wednesday, before the announcement.