Singapore Petroleum completes CB

Keppel Corp company raises funds to purchase BP''s Singaporean assets.

Singapore Petroleum launched a $184 million convertible after Asia's close on Friday, raising funds to finance the purchase of a stake in Singapore Refining from British Petroleum.

The JPMorgan led deal had a five put three structure, with no call option. The only part of the deal to be marketed on a range to investors was the yield, which was indicated at 1.5% to 1.75% and priced at the wide end because of high investor sensitivity.


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