SATS prices $100m notes due 2025 at 2.6%

Proceeds will be used partly for general corporate purposes.

SATS has priced its $100m notes due 2025 at a yearly interest rate of 2.6% payable semi-annually in arrear, according to an SGX filing. The five-year notes, with a denomination of $250,000, will be issued on 24 April.

Also read: SATS issues $200m fixed rate notes

The net proceeds from this will be applied for general corporate purposes, including general working capital, capital expenditure and capital management, as well as for investing in value creating opportunities and refinancing its borrowings.

The Series 002 Notes are expected to be issued and listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on the market day after such issue.

DBS Bank and UOB have been appointed as the joint lead managers and joint bookrunners for the issuing of the notes.

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