Far East Consortium International Ltd. unit FEC Finance Ltd. will issue additional US$50 million of 7.375% senior guaranteed perpetual capital notes under the parent company's US$1 billion guaranteed medium-term note program.
The new notes will be consolidated and will form a single series with the company's planned offering of US$250 million of similar notes, according to a Sept. 11 filing. The additional notes will be issued on or about Sept. 16 at 102.423% of their aggregate nominal amount.
Net proceeds from the additional notes will be channeled toward the group's business development, general corporate purposes and refinancing of existing debts.
HSBC is the manager for the issuance of the additional notes.
