Maiden foray: Halcyon Agri launches $125m fixed rate notes

It’s the firm’s first time to issue bonds.

Halcyon Agri officially launched its $125m series 001 fixed rate notes yesterday, ) to be issued under its S$300,000,000 Multicurrency Debt Issuance Programme.

DBS Bank Ltd. has been appointed to act as the sole lead manager and bookrunner in relation to the Series 1 Notes, which have a maturity date five years from the date of issue.

“The net proceeds from the issue of the Series 1 Notes (after deducting issue expenses) will be used for the purpose of financing general corporate purposes of the Group, including to finance potential acquisitions, strategic expansions, general working capital, capital expenditure and investments of the Group and to refinance existing borrowings of the Group,” noted Halcyon Agri.

Here’s more from the report:
The principal terms of the Series 1 Notes are as follows:
Issue Size : S$125,000,000

Issue Price : 100% of the principal amount of the Series 1 Notes

Interest : From, and including, the date of issue to, but excluding, the sixth interest payment date: Fixed rate of 6.5% per annum payable semi-annually in arrear.
So long as the Series 1 Notes are not redeemed, from, and including, the sixth interest payment date: Fixed rate of 8.5% per annum payable semi-annually in arrear.

Maturity Date : Five (5) years from the date of issue
Denomination : S$250,000