SATS issues $200m fixed rate notes

The notes have a fixed coupon rate of 2.88% per annum and are payable semi-annually.

SATS issued $200m worth of five-year notes, according to an announcement. The notes, which will mature in 2025, have a fixed coupon rate of 2.88% per annum and payable semi-annually in arrear.

Net proceeds will be used for refinancing of existing borrowings and general corporate purposes.

The Series 001 notes are expected to be listed on the Singapore Exchange in denominations of $250,000 today. These will be issued under the company's $500m multi-currency debt-issuance programme.

DBS Bank and UOB have been appointed as joint lead managers and bookrunners.

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