Sats prices US$100 million in fixed-rate notes at 4.648%
[SINGAPORE] In-flight caterer and ground handler Sats on Wednesday (Jun 18) priced US$100 million in fixed-rate notes due Jun 23, 2030, at 4.648 per cent.
The Series 003 notes will be issued by Sats' US$3 billion multicurrency debt issuance programme established in November 2023 and updated last year.
They are expected to be issued on Jun 23, the company said in a bourse filing. The interest rate is fixed at 4.648 per cent each year, payable semi-annually in arrear.
The net proceeds will be used to refinance existing borrowings, Sats said, adding that the issuance will not result in an increase in the group's overall debt.
MUFG Securities EMEA has been appointed as the sole coordinator in relation to the notes.
Sats shares closed flat at S$3.08 on Wednesday.
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