ST Engineering updates $5b multicurrency note programme
It has been turned into the $5b global medium-term note programme.
Singapore Technologies Engineering Ltd (ST Engineering) bared that it amended its $5b multicurrency medium-term note programme it established on 18 March 2020 to a $5b global medium-term note programme.
Under the amended programme, ST Engineering nominated ST Engineering Urban Solutions USA Inc. (STE URS USA) to help issue the notes.
ST Engineering said the notes may be issued by ST Engineering RHQ Ltd., ST Engineering Treasury Pte. Ltd. and STE URS USA, in various amounts and tenors. It may be issued in fixed-rate notes, floating-rate notes, zero-coupon notes, index-linked notes, and dual currency notes.
Following the update, it will allow the offer and sale of notes without registration under the US Securities Act of 1933, as amended, in reliance on available exemptions thereunder. In Singapore, the Notes will be offered in compliance with exemptions under Sections 274, 275 and/or any other applicable provision of the Securities and Futures Act 2001 of Singapore as modified or amended from time to time.
The proceeds of the notes issued under the amended programme will be used to refinance the acquisition of TransCore Partners, LLC and TLP Holdings, LLC, which was completed in March 2022.