Ezra puts up $500m multicurrency debt issuance programme

Part of the net proceeds will be used for refinancing the existing borrowings of the company and its subsidiaries.

Ezra Holdings Limited announced that it has established a US$500 million multicurrency debt issuance programme and has appointed The Hongkong and Shanghai Banking Corporation Limited as arranger and dealer and DBS Bank Ltd. as a dealer.

Under the debt issuance programme, Ezra may issue from time to time, subject to compliance with all relevant laws, regulations and directives, in series or tranches, notes and senior or subordinated perpetual securities denominated in any currency as may be agreed between the relevant dealer of the particular series or tranche of securities.

The company said it may issue notes in various amounts and tenors, and may bear fixed, floating, variable or hybrid rates of interest or may not bear interest.

Meanwhile perpetual securities have no fixed maturities and may be issued by the company in various amounts, may bear fixed or floating rates of distribution, and if so provided in the applicable pricing supplement, may have distributions deferred at Ezra’s option.

The net proceeds arising from the issue of the securities under the debt issuance programme will be used for refinancing the existing borrowings of the company and its subsidiaries, capital expenditure purposes, and financing general working capital and the general corporate purposes of the company.

The securities to be issued will be offered in Singapore only to persons specified under Sections 274 and 275 of the Securities and Future Act of Singapore.