Wing Tai prices S$100 million 5-year notes at 4.38%

WING Tai has priced S$100 million in fixed-rate senior unsecured notes due Apr 3, 2029, at 4.38 per cent. Coupon payments will be made semi-annually.

The notes were issued under the property developer’s S$1 billion multicurrency debt-issuance programme established on Mar 6.

Net proceeds from the issuance will be used to finance working capital requirements and investments, and to refinance existing borrowings.

DBS Bank, HSBC and OCBC were the joint book runners for the issue. DBS Bank and OCBC were the joint global coordinators.