Straits Trading launches $55m multicurrency commercial paper on SDAX platforms

The company aims to raise between $5m and $10m in its first issuance.

Straits Trading Company launched a $55m multicurrency commercial paper facility in digital securities. 

It will issue these securities on SDAX Capital Markets and SDAX Exchange digital platforms, namely  "Capital Markets Platform," "SCMPL," "Exchange Platform," and "SDAX Exchange."

Under the programme, Straits Trading can offer commercial papers to accredited and institutional investors on the Exchange Platform or to retail investors on the Capital Markets Platform.

On 15 October, the company issued its first offering on the Exchange Platform for accredited and institutional investors, with an interest rate of 3.80% per annum and a maturity of about three months.

The company aims to raise between $5m and $10m through this 3-month issuance, depending on investor demand, as decided by the Board.