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SATS to issue S$200m in notes due 2025

SATS on Wednesday announced that it is offering S$200 million in five-year notes. 

The notes, which will mature five years from the date of issuance, will have a fixed coupon rate of 2.88 per cent per annum payable semi-annually in arrear.

The notes are in denominations of S$250,000 and are expected to be issued on March 31, 2020.

Net proceeds will be used for refinancing of existing borrowings and general corporate purposes, SATS said in a bourse filing.

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 up $0.36 or 13.2 per cent to S$3.09 on Wednesday.