Swiber Holdings prices fixed rate notes amounting to S$75m

The net proceeds raised will be used to fund the refinancing of Swiber and its subsidiaries’ debt obligations.

In a news release, the board of Swiber Holdings Limited announced that it has priced S$75 million in principal amount of 7% fixed rate notes due 2016 under its S$700 million Multicurrency Medium Term Note Programme.

Australia and New Zealand Banking Group Limited and DBS Bank Ltd. have been appointed as joint lead managers and bookrunners of the notes.

The principal terms of the notes are as follows: the issue size is S$75 million and the issue price is 100% of the principal amount of the notes. Interest is at 7% per annum.

The issue date of the notes is expected to be on 6 July 2012 and the maturity date is four years from the date of issue, pegged on 6 July 2016.

The net proceeds arising from the issue of the notes, after deducting issue expenses, will be used for the purpose of refinancing the issuer’s and its subsidiaries’ debt obligations.

Application will be made to the Singapore Exchange Securities Trading Limited for the listing and quotation of the notes on the SGX-ST.

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