SPH to issue $500m in 3.2% notes due 2030

Singapore Press Holdings will be issuing S$500 million notes at par, under its S$1 billion multi-currency debt issuance programme.
Singapore Press Holdings will be issuing S$500 million notes at par, under its S$1 billion multi-currency debt issuance programme.PHOTO: ST FILE

SINGAPORE (THE BUSINESS TIMES) - Singapore Press Holdings (SPH) will be issuing $500 million senior unsecured notes at par, under its $1 billion multi-currency debt issuance programme.

The 10-year notes will carry a coupon of 3.2 per cent per annum, the mainboard-listed group said on Wednesday evening (Jan 15).

The notes are expected to be issued on Jan 22 this year, and listed on the Singapore Exchange on, or about Jan 23. They will mature on Jan 22, 2030.

The proceeds from the bond issue will be used for SPH's general working capital, capital expenditure, and/or to refinance existing borrowings of the media group and its subsidiaries. It may also be used for corporate requirements, including acquisitions and investments.

DBS Bank, OCBC Bank, and United Overseas Bank were appointed as joint lead managers and bookrunners for this deal.

SPH, which publishes The Straits Times and The Business Times, saw its shares close at $2.12 on Wednesday, down two cents, or 0.9 per cent, before this announcement.