Keppel Corp prices $424.71m notes due 2025 at 2.46%

Net proceeds will be used for general corporate or working capital purposes.

Keppel Corporation has priced the issue of its $424.71m (US$300m) 2.459% notes due 2025, an SGX filing revealed. The notes are under the firm’s $7.08b (US$5b) multi-currency medium term note programme.

Daiwa Capital Markets Singapore Limited and Oversea-Chinese Banking Corporation Limited have been appointed as the joint lead managers of the notes. It bears interest at a fixed rate of 2.46% per annum, payable semi-annually in arrear and has a tenor of five years.

Net proceeds from the issue will be used for general corporate or working capital purposes including refinancing of existing debts.

An application will be made to the Singapore Exchange Securities Trading Limited (SGX-ST) for permission to deal in, and for quotation of, the notes.

The notes are expected to be issued on or about 4 June and are expected to be listed on the SGX-ST on or about the following business day after such issue.

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