Intraco issues new digital securities denominated in SGD and USD

Both were issued under the SDAX CP Facility Programme.

Intraco Limited has issued its eleventh series of commercial paper in digital securities denominated in Singapore Dollars under the SDAX CP Facility Programme (SGD CP Series 011 Tokens).

The digital securities have a tenor of 30 days at an interest rate of 4.0% per annum.

The company also issued its seventh series of commercial paper in digital securities denominated in United States Dollars under the SDAX CP Facility Programme (USD CP Series 007 Tokens) for a tenor of 30 days at an interest rate of 6.0% per annum.

The SGD CP Series 011 Tokens raised $10.10m from accredited investors, whilst the USD CP Series 007 Tokens raised US$4.06m. Both issues will be listed on the SDAX Exchange on the same day.

Amongst the subscribers for the SGD CP Series 011 Tokens, $6.75m was subscribed by associates of the company’s controlling shareholders, specifically the executive chairman and his spouse, representing approximately 67% of the issuance.

Meanwhile, amongst the subscribers for the USD CP Series 007 Tokens, US$1.00m was subscribed by associates of the company’s controlling shareholders, representing approximately 25% of the issuance.

Taurus Point Capital serves as the adviser on the SDAX CP Facility Programme, including the SGD CP Series 010 Tokens and the USD CP Series 006 Tokens. The exempt corporate finance adviser is 51% owned by Intraco Limited.

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