Wing Tai Holdings launches $1b multicurrency debt issuance programme

Proceeds will be used for general working capital, investments, and refinancing existing borrowings.

Wing Tai Holdings Limited has initiated a $1b Multicurrency Debt Issuance Programme.

The company has appointed The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch as the arranger and dealer for the programme.

Under the initiative, Wing Tai Holdings has the flexibility to issue notes and perpetual securities in various currencies.

The securities may also have different amounts, tenors, and interest structures. Moreover, the perpetual securities may be subordinated or unsubordinated and can be offered outside the United States to non-U.S. persons under Regulation S of the U.S. Securities Act of 1933.

Additionally, the company plans to target institutional investors and accredited investors in Singapore, relying on Section 274 and Section 275 of the Securities and Futures Act 2001 of Singapore.

Proceeds from the issuance, after deducting expenses, will be used for general working capital, investments, and refinancing existing borrowings.

The company has already received in-principle approval from the Singapore Exchange Securities Trading Limited (SGX-ST) for the programme.

Admission to the official list of the SGX-ST is pending.

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