Stocks to watch: Sembcorp Industries, ST Engineering, Frasers Centrepoint Trust

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jun 25):

Sembcorp Industries : The company’s wholly owned subsidiary, Sembcorp Financial Services, announced the issuance of S$300 million notes under its S$5 billion Euro Medium Term Note programme established in July 2023. The fixed rate guaranteed notes are priced at an interest rate of 3.55 per cent per annum, payable semi-annually on Jul 2 and Jan 2 in each year, the group said on Wednesday. The offering was close to seven times oversubscribed and proceeds from the issuance will finance Sembcorp’s general corporate purposes and working capital requirements. The counter ended on Tuesday unchanged at S$6.85.

ST Engineering : The group’s wholly owned subsidiaries, ST Engineering North America and ST Engineering LeeBoy, on Tuesday, agreed to sell its entire equity interest in LeeBoy to asphalt paving equipment manufacturer, Fayat, for an estimated US$290 million, subject to adjustments. The net proceeds from the sale of about US$246 million will be used to reduce debt, resulting in an interest expense savings of about US$9 million. LeeBoy is the last of the company’s construction equipment businesses and is part of the group’s defence and public security segment. Shares of ST Engineering closed 1.1 per cent or S$0.09 lower at S$7.83, before the news.