Oxley prices S$70m of 6.9% notes due 2024

OXLEY Holdings has priced S$70 million of 6.9 per cent notes due 2024, issued under its US$1 billion guaranteed euro medium-term note programme.

In its announcement on Friday morning, the property developer said net proceeds will be used for general corporate purposes including the refinancing of borrowings, as well as working capital and capital expenditure requirements of the group.

The series 4 notes are expected to be issued on July 8, 2021.

They will bear a fixed rate of 6.9 per cent per annum and will mature on July 8, 2024.

Credit Suisse and DBS have been appointed as the arrangers and joint bookrunners for the deal.

Shares of Oxley closed half a Singapore cent or 2.1 per cent higher at 24 cents on Thursday.