Sats to issue $200m in notes due 2025

SINGAPORE (THE BUSINESS TIMES) - Sats on Wednesday (March 25) announced that it is offering $200 million in five-year notes.

The notes, which will mature five years from the date of issuance, will have a fixed coupon rate of 2.88 per cent per annum payable semi-annually in arrear.

The notes are in denominations of $250,000 and are expected to be issued on March 31, 2020.

Net proceeds will be used for refinancing of existing borrowings and general corporate purposes, Sats said in a bourse filing.

The Series 001 notes will be issued under the company's $500 million multi-currency debt-issuance programme.

DBS Bank and UOB have been appointed as joint lead managers and bookrunners.

Shares of Sats closed up $0.36 or 13.2 per cent to $3.09 on Wednesday.