SATS issues S$200m 2.9% 5-year notes

MAINBOARD-LISTED SATS on Tuesday said it has issued S$200 million worth of five-year notes. 

The notes, which mature in 2025, will have a fixed coupon rate of 2.88 per cent per annum, payable semi-annually in arrear.

The Series 001 Notes are expected to be listed on the Singapore Exchange on Wednesday.

The notes are in denominations of S$250,000. Net proceeds will be used for refinancing of existing borrowings and general corporate purposes, SATS said in a bourse filing on last Wednesday.

The Series 001 notes will be issued under the company's S$500 million multi-currency debt-issuance programme. DBS Bank and UOB have been appointed as joint lead managers and bookrunners.

Shares of SATS closed down $0.04 or 1.25 per cent to S$3.16 on Tuesday.