AVIATION | Staff Reporter, Singapore

Singapore Airlines raises offer price of 10-year bond issue to $500m

It was initially launched at an offer size of $300m.

Singapore Airlines has increased the offer size of its 10-year bond issue from $300m to $500m after what the company saw that a “strong appetite was apparent from a select group of private investors.”

The 10-year bonds will carry a competitive coupon of 3.5% per annum.

“This issuance further strengthens the Company’s liquidity position, and the proceeds will be used for general purposes including refinancing of existing borrowings,” SIA said.

SIA has raised a total of $12.7b since the start of FY 2021. This includes $8.8 billion from SIA’s successful rights issue, $2 billion from secured financing, $850 million via a recent convertible bond issue, and more than $500 million through new committed lines of credit and a short-term unsecured loan.

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