Straits Trading prices $130m notes at 4.70%
The notes are due in 2029.
The Straits Trading Company has priced its $130m worth of notes due 2029 at 4.70%.
The Series 005 notes issued are under the programme established by Straits Trading on 13 October 2011 and updated on 3 July 2017.
The REIT will issue the notes on 24 January and mature five years from the issue date.
The notes will be available to institutional and accredited investors.
In a bourse filing, the company said it would use the net proceeds from the issue of the notes “for general corporate purposes, including the refinancing of existing borrowings and the financing of working capital and capital expenditure requirements of the Issuer and its subsidiaries.”
Until the company uses the proceeds, it intends to invest the funds in short-term, interest-bearing instruments.
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