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SIA establishes $2 bil medium term bond programme

PC Lee
PC Lee • 1 min read
SIA establishes $2 bil medium term bond programme
SINGAPORE (Mar 14): Singapore Airlines has established a $2 billion medium term bond programme.
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SINGAPORE (Mar 14): Singapore Airlines has established a $2 billion medium term bond programme.

The city-state’s flagship carrier says net proceeds from the programme will be used to refinance existing borrowings, finance investments and fixed assets as well as goes towards general working capital purposes.

DBS Bank has been appointed arranger of the bond programme while DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) have been appointed dealers.

SIA says the bonds may be issued in series or tranches in Singapore dollars or any other currency as may be agreed between the issuer and relevant dealers of the programme.

Bonds may alsobe issued in various amounts and tenors, and may bear interest at fixed, floating, variable or hybrid rates or such other rates as may be agreed between the issuer and relevant dealers of the programme.

SIA had issued $600 million worth of five-year 3.16% bonds in Oct 2018 and issuing $700 million worth of 10-year 3.13% bonds in Aug 2017.

As at 11.41am, shares in SIA are up 7 cents at $9.79.

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