Singapore Airlines (SIA) has successfully raised S$500 million via a private placement of new ten-year bonds. The offer was launched at an offer size of S$300 million in response to an initial expression of interest, and was increased to S$500 million after strong appetite was apparent from a select group of private investors. The ten-year bonds will carry a competitive coupon of 3.5% p.a. DBS Bank and United Overseas Bank acted as joint lead managers of the issue.
This issuance further strengthens the Company’s liquidity position, and the proceeds will be used for general purposes including refinancing of existing borrowings. (US$1.00 = S$1.34 at time of publication.)
