Metro Holdings to issue $165m 4.3% notes

The net proceeds will be used to finance investments and general working capital requirements.

Metro Holdings has launched and priced $165m in aggregate principal amount of 4.3% notes due 2024 (Series 002 Notes) pursuant to the $1b Multicurrency Debt Issuance Programme established by the Company on 4 October 2018, an announcement revealed.

The net proceeds arising from the issue of the Series 002 Notes under the programme, after deducting issue expenses, will be used for general corporate purposes, including financing investments, acquisitions and capital expenditure, refinancing of existing borrowings and general working capital requirements of the company or its subsidiaries, joint ventures and associates.

The notes will be released in denominations of $250,000 and are expected to be issued on 2 April. They will be listed on the Singapore Exchange Securities Trading (SGX-ST) on the market day after such issue.

DBS Bank and Oversea-Chinese Banking Corporation (OCBC) are the joint lead managers and bookrunners in relation to the Series 002 Notes.

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