Aspial says placement tranche for second retail bond offer oversubscribed on first day

SINGAPORE - Aspial Corporation said its second retail offering of four-year 5.30 per cent bonds due 2020 to private banking, institutional and other investors has been oversubscribed within the first day of its launch.

The placement closed after receiving valid applications of more than S$25 million within a day of launching the offer, Aspial announced on Thursday (March 24).

The public offer for up to S$50 million in aggregate principal amount of bonds remains open until noon on March 30.

Aspial said that in the event of oversubscription, it reserves the right to increase the aggregate issue size of the Public Offer and, if re-opened, the placement, to up to S$200 million

Said Aspial's chief executive officer Koh Wee Seng: "We are heartened that our second retail bond offer has received strong reception from private banking and institutional investors. This is a testament to the attractiveness of the four-year 5.30 per cent bond offering, as well as investors' confidence in our value propositions and growth potential. We would like to take this opportunity to thank the investors for their strong support, and hope the bond offering will also be well-received by the retail investors."