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Redco Properties seeks US$297.5M from planned US$300M senior notes offering

Redco Properties Group Ltd. is planning to issue US$300 million of 6.375% senior notes due Feb. 27, 2019, in a bid to raise approximately US$297.5 million for debt repayments and general corporate expenditures.

The listed company said it already secured in-principle approval from the Singapore stock exchange for the listing of the notes, which will be offered at a price equal to 100% of the principal amount.

Credit Suisse (Hong Kong) Ltd., the Singapore branch of Deutsche Bank AG, Oriental Securities (Hong Kong) Ltd. and VTB Capital Plc are the joint book runners and joint lead managers of the planned offering. Credit Suisse and Deutsche Bank will also be taking on the role of joint global coordinators.