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SIA to issue $2b of medium-term bonds

Singapore Business Review logo Singapore Business Review 14/3/2019 Staff Reporter
a large passenger jet flying through a blue sky: SIA to issue $2b of medium-term bonds © Provided by Charlton Media Group SIA to issue $2b of medium-term bonds

DBS has been appointed as the arranger of the bond programme.

Singapore Airlines (SIA) has established a $2b Medium Term Bond Programme, an announcement revealed.

DBS has been appointed as the arranger of the programme, whilst DBS, OCBC, and UOB have been appointed as the programme dealers.

The bonds may be issued in series or tranches in Singapore dollars or any other currency as may be agreed between the SIA and relevant dealers.

The net proceeds from the bond issues will be used to refinance existing borrowings, finance investments, and fixed assets and for general working capital purposes, or as may be specified in the relevant pricing supplement.

SIA has applied for the SGX-ST's permission for permission to deal in and the quotation for any bonds to be so listed on the SGX-ST.

The airline had previously tapped the bond market in October 2018 and August 2017, issuing $600m worth of five-year 3.16% bonds and $700m worth of 10-year 3.13% bonds respectively.

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