22-Sep-2010 8:42 AM

Singapore Airlines to offer SGD300m in bonds

Singapore Airlines announced (21-Sep-2010) an offering of SGD300 million in aggregate principal amount of 2.15% bonds due in 2015. The offer will be made to the public by way of ATMs and to institutional and other investors. The offering will be as follows:

  • Bond pricing: The bonds, which will be issued in denominations of SGD1,000 each, will bear interest at the rate of 2.15% p/a, payable semi-annually in arrears. The bonds are to be offered from expected to be issued on or about 30-Sep-2010 and will have a term of five years.
  • Public offer: SGD50 million will be offered under the public offer at the issue price of 100% of the principal amount by way of ATMs belonging to DBS Bank Ltd (DBS Bank), Oversea-Chinese Banking Corporation Limited (OCBC Bank) and United Overseas Bank Limited (UOB) and its subsidiary Far Eastern Bank Limited. The bonds are to be offered from 22-Sep-2010 to 28-Sep-2010. If the bonds are oversubscribed, up to SGD100 million may be re-allocated;
  • Institutional placement: SGD250 million will be offered to institutional and other investors, outside the US. The bonds are to be offered from 21-Sep-2010 to 28-Sep-2010. [more]
  • Bookrunners and underwriters: DBS Bank, OCBC Bank and UOB are the co-ordinating bookrunners of the offer and bookrunners and underwriters of the public offer. The joint lead managers, bookrunners and underwriters of the institutional placement are DBS Bank, OCBC Bank, Standard Chartered Bank (SCB) and UOB.
  • Singapore Exchange Securities Trading Limited provided in-principle approval for the listing and quotation of the bonds on the SGX-ST.

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