Singapore Airlines bond offer oversubscribed, increases offer
Singapore Airlines announced its SGD300,000 in aggregate principal amount of 2.15% bonds, due in 2015, were issued on 30-Sep-2010. It is expected the bonds will be listed on 01-Oct-2010 and trading of the bonds will commence the same day. The issue of the bonds is not expected to have a material effect on the net tangible assets and earnings per share of the carrier and its subsidiaries for the current financial year.
SIA received orders of more than SGD346 million under the public offer and has decided to reallocate a maximum of SGD100 million the aggregate principal amount of the bonds to satisfy the excess demand. Accordingly, the total of SGD300 million in aggregate principal amount of bonds at the issue price of 100% available under the offer will be allocated as follows:
- SGD150 million in aggregate principal amount of the bonds to the public offer;
- SGD150 million in aggregate principal amount of the bonds to the placement.
The initial offer included SGD50 million of bonds offered to the public and SGD250 million of bonds offered to institutional and other investors. [more]