Tuesday, September 05, 2006
[RealEdge] BT : Far East's unit sells $210m bonds: source
| Published September 5, 2006  | |
| Far East's unit sells $210m bonds: source LUCKY Square Pte Ltd, a unit of Singapore's property developer Far East Organization, has sold $210 million worth of five-year bonds, a source close to the deal said yesterday. The bonds were sold by a special-purpose vehicle, Lucky Condotel, and were bought by institutional investors, the source told Reuters. DBS Bank was the sole lead manager for the transaction. The funds will be used to refinance debt. A five-year fixed-rate tranche of $105 million was priced to yield 4.115 per cent, while a five-year floating rate tranche was sold at 50 basis points above Singapore's six-month swap offered rate. The six-month swap offered rate was quoted at 3.68 per cent late yesterday. Bond issuance in Singapore has picked up pace this year, led by property companies, which are raising debt to fund their expansion because of a recovering property market. - Reuters |
You are receiving Individual Emails Change Delivery Settings
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
