Surbana Jurong's maiden $350m SGD senior bond 2x oversubscribed
The offering is scheduled to settle on 3 October 2018.
Surbana Jurong priced a $350m SGD senior bond due 2025 as part of its US$1b Multicurrency Debt Issuance Programme on 14 September 2018. Some 67 investors participated in its maiden offering, resulting in the bonds being 2x oversubscribed.
“This is one of the largest corporate bond issuances in the SGD bond market year-to-date for 2018,” the company said.
Surbana Jurong intends to use the net proceeds for refinancing its existing debts and financing potential acquisition opportunities. The proceeds will also be used for general corporate and working capital purposes.
The bond offering is scheduled to settle on 3 October 2018.
DBS Bank is the sole lead manager of the bond offering and sole arranger of the US$1b Multicurrency Debt Issuance Programme.