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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

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SIA plans to allocate 60-80 per cent of the proceeds from the issuance for operating cash flow and debt service, while 20-40 per cent will go into capital expenditure.

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...

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