Stocks to watch: Sats, Amara, Cordlife

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 17):

Sats : The inflight caterer and ground handler’s wholly owned subsidiary on Wednesday priced US$500 million worth of fixed-rate senior unsecured notes at 4.828 per cent. The notes, which will be used to refinance part of the group’s existing one billion euro (S$1.5 billion) bridge loans maturing in May 2024, will be immediately converted into euros via a cross currency swap. Shares of Sats closed on Tuesday 1.4 per cent or S$0.04 lower at S$2.89.

Amara : The voluntary cash offer for property developer and hotel group Amara closed on Tuesday, with valid acceptances falling short of the 90 per cent compulsory acquisition threshold. This means the offeror, Amethyst Assets, will not be able to buy over the shares of those who did not accept the offer. Prior to the announcement, shares of Amara closed 0.8 per cent or S$0.005 higher at S$0.605.