Intraco raises $20.05m, US$5.92m in digital paper

Retail tranche adds $410,000.

Intraco has issued three tranches of digital commercial paper under its SDAX CP Facility Programme, including a $20.1m Singapore-dollar tranche, a US$5.9m US-dollar tranche, and a $410,000 six-month retail Singapore-dollar tranche.

The 29-day Singapore-dollar series carries an interest rate of 3.4% per annum, whilst the 29-day US-dollar series pays 4.5% and the 183-day retail Singapore-dollar series pays 2.78%.

Intraco said the SGD and USD tranches were sold to accredited investors on the SDAX Exchange, whilst the retail tranche was sold on the Capital Markets Platform, with all three to be issued on the same day.

Amongst subscribers, $8.8m of the Singapore-dollar tranche, or about 43.9%, was taken up by associates of controlling shareholders, a director, and the executive chairman and his spouse.

A further US$540,000 of the US-dollar tranche, or about 9.1%, was subscribed by associates of controlling shareholders, a director, and the executive chairman.

Taurus Point Capital, a wholly owned Intraco subsidiary, acted as adviser on the programme and the latest issuances. The company said it will make further announcements if there are material developments.

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