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UOL prices S$225 million notes due 2032 at 2.78%

UOL prices S$225 million notes due 2032 at 2.78%

By Kim Browne

Culture

This comes after the property developer previously priced S$75 million notes at the same rate on Jul 9

UOL’s unit UOL Treasury Services (UTS), a special purpose entity, has issued S$225 million notes at 2.78 per cent yield, said the property developer on Tuesday (Jul 15).

The notes are expected to be listed on the Singapore Exchange on Wednesday. They are issued as the first tranche of the fifth series of notes under a S$2 billion multicurrency medium-term note programme established by UTS in November 2014.

DBS and UOB have been appointed as the joint lead managers and book-runners for the notes.

This issue came after UTS priced S$75 million notes at the same rate on Jul 9, with net proceeds being put towards general corporate purposes, such as refinancing of existing borrowings alongside the financing of working capital and capital expenditure requirements of the group.

Shares of UOL closed Tuesday down 1.3 per cent or S$0.09 at S$6.75, before the announcement.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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