trending Market Intelligence /marketintelligence/en/news-insights/trending/mkPUKROH0xe4d2UABs2l9w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Shui On Land unit plans $250M notes offering

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Shui On Land unit plans $250M notes offering

Shui On LandLtd. unit Shui On Development plans to issue an aggregate principalamount of US$250 million in 4.375% senior unsecured notes due 2019.

The estimated net proceeds of approximately US$246 million willbe used to repay existing near-maturity debt and to fund capital expenditures,the company said in a filing.

The company and its unit signed a purchase agreement withStandard Chartered Bank, BofA Merrill Lynch, BNP Paribas, Credit Suisse and UBSfor the proposed issue, which will be guaranteed by Shui On Land.

The notes will be redeemed Oct. 5, 2019, unless redeemedearlier. The offer price of the notes will be 99.653% of the principal amountof notes. The interest is payable semiannually in arrears on April 5 and Oct. 5each year, commencing April 5, 2017. In-principle approval has been obtainedfor the listing of the notes on the Singapore stock exchange.

Standard Chartered Bank, BofA Merrill Lynch, BNP Paribas,Credit Suisse and UBS are the joint lead managers and joint book runners forthe offering and sale of the notes.