ST Engineering units launch $5b multicurrency medium term note programme

Issuers will be allowed to issue notes from time to time.

ST Engineering RHQ and ST Engineering Treasury, wholly-owned subsidiaries of Singapore Technologies Engineering (ST Engineering), have established a $5b multicurrency medium term note programme, said in its bourse filing.

This replaces the $1.74b (US$1.2b) multicurrency medium term note programme established in July 2009 by ST Engineering Financial and terminated in December 2018.

Under the programme, issuers may from time to time issue notes denominated in any currency, agreed between the relevant issuer and the relevant dealer for each issue of notes. The notes will be offered in Singapore.

The firm said the programme was put up to allow the firm to tap the debt capital market for longer tenor financing.