SUBSCRIBERS

SIA sets S$850m convertible bonds coupon at 1.625%

Five-year bonds upsized due to oversubscription; initial conversion price is S$5.743 for each new ordinary share

Fiona Lam

Published Fri, Nov 13, 2020 · 09:50 PM

Singapore

HAVING garnered strong investor interest, Singapore Airlines' (SIA) new S$850 million five-year convertible bonds have been upsized and will carry a 1.625 per cent coupon.

The initial conversion price is S$5.743 for each new ordinary share, said the flag carrier in a filing early Friday. That represents a conversion premium of about 45.8 per cent over SIA's closing stock price on Thursday.