SINGAPORE - BreadTalk Group, which runs brands including Toast Box and Din Tai Fung, has established a S$500 million multicurrency medium term note programme, the company announced on Wednesday night (April 17).
Under the programme, BreadTalk may from time to to time, issue notes in series or tranches in Singapore dollars, and/or any other currency agreed between the relevant dealer(s) and the issuer, the company said.
It added that each series of notes may be issued in various amounts and tenors, and may bear fixed, floating or variable rates of interest. Hybrid notes or zero-coupon notes may also be issued.
The notes will constitute direct, unconditional, unsecured and unsubordinated obligations of the issuer, and shall at all times rank without any priority among themselves, and with all other unsecured obligations, other than subordinated obligations and priorities created by law, BreadTalk said.
Net proceeds arising from the issue of the notes may be used for general corporate purposes, including refinancing of existing borrowings, financing capital expenditure, and as general working capital, or other purposes specified in the relevant pricing supplement, the company added.
The group has made an application to the Singapore Exchange Securities Trading (SGX-ST) for permission to deal in, and the quotation for its notes to be listed on the Singapore bourse. Such permission will be granted when the notes have been admitted to the official list of the SGX-ST, BreadTalk said.
OCBC and Standard Chartered Bank have been appointed as arrangers and dealers of the multicurrency medium term note programme.
BreadTalk shares closed flat at $0.845 on Wednesday.