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Sats quadruples multicurrency MTN limit to S$2b for potential growth investments
SATS has upsized the limit of its multicurrency medium term note (MTN) programme to S$2 billion, up from S$500 million, to open up the possibility of accessing the bond markets to fund potential growth investments.
"Although there is no immediate need to raise additional funds, the option to access the bond market in this way may become an attractive way to finance new acquisitions and growth investments in the future," the inflight catering services provider said in a bourse filing after trading hours on Friday.
The upsize creates flexibility for Sats to be able to tap the bond market through the programme for additional funds "as and when necessary", it added.
Shares of Sats closed at S$4.23 on Friday, up 2.42 per cent.