Gallant Venture set to issue $75m notes due 2017

It has an interest rate of 7% per year.

Mainboard-listed Gallant Venture has proposed the issue of $75m notes due 2017, with an interest rate of 7% per annum.

The notes are part of its US$500m medium-term note programme. DBS Bank Ltd., Standard Chartered Bank and UBS AG, Singapore Branch have been appointed as the joint lead managers and bookrunners for the issue of the notes.

The Company intends to use the net proceeds from the issue of the Notes for the partial refinancing of the existing syndicate.

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