ST Engineering unit issues US$750m notes due 2030

This will be used to refinance existing loans.

Singapore Technologies Engineering Ltd.’s (ST Engineering) wholly-owned subsidiary has issued notes priced at S$982.5m (US$750m) with 4.250% fixed-rate coupon.

According to a bourse filing, the notes, due in 2030, were issued by ST Engineering RHQ Ltd. The subsidiary will use the net proceeds to refinance existing borrowings.

The notes are expected to be issued on 8 May, which will be in denominations of US$200,000 and integral multiples of US$1,000 in excess thereof. These will be listed on the Singapore Exchange on 9 May.

ST Engineering said the notes are under the S$6.55b (US$5b) Global Medium Term Note Programme, which the group unconditionally and irrevocably guarantees.

US$1 = S$1.31

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