Keppel looks to raise $500m via two note issues

The notes are expected to be issued on 7 May on the SGX-ST.

Keppel Corporation has priced the issue of $150m at 3% notes due 2024 (Series 009 Notes) and $350m at 3.66% notes due 2029 (Series 010 Notes), which will be issued under its US$5b multi-currency medium term note programme, an announcement revealed.

The Series 009 Notes will be payable semi-annually in arrears, and will have a tenor of five years, whilst the Series 010 Notes will have a tenor of 10 years.

Also read: Keppel raises medium-term note programme limit to $6.81b

Net proceeds from the issue of the notes under the programme will be used for general corporate or working capital purposes.

An application will be made to the Singapore Exchange Securities Trading (SGX-ST) for permission to deal in, and for quotation of, the notes.

The notes are expected to be issued on or about 7 May 2019, and are expected to be listed on the SGX-ST on or about the following business day after such issue.

Oversea-Chinese Banking Corporation (OCBC) has been appointed as the sole dealer of the notes.

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