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SPH in $600m note offer (ST)

BackFeb 25, 2010

SINGAPORE Press Holdings (SPH) has announced that the size of the first tranche of its notes offering is $600 million.

The first tranche of the programme was launched with a minimum size of $300 million, but was increased to $600 million, due to strong demand by investors.

The notes will pay a fixed rate of 2.81 per cent per annum, semi-annually, and are due in 2015.

SPH announced earlier this week that it was setting up a $1 billion multicurrency medium-term note programme.

The funds raised from the debt programme are to be used for general working capital, capital spending and other requirements such as acquisitions or investments.

The funds may also be used to refinance existing borrowings.

OCBC Bank was the dealer for the issue.