Singapore Airlines launches leveraged sovereign play

Asian airline giant will make its debut in the local debt capital market today (Friday) with a deal that will price above 100bp over swaps.

Singapore Airlines SIA is to tap the debt capital markets for the first time with an S$800 million $440.4 million fixed-rate offering. HSBC and OCBC have been mandated as joint lead managers for the deal, which is likely to launch today.

The deal will have a 10-year maturity and domestic investors report that there is likely to be a yield of between 108bp to 112bp over swaps. At these levels, SIA will come about 20bp wider than Singapore Telecommunications whose...

To continue reading, please login or register for free

Click for more on: singapore | airlines | launches | leveraged | sovereign | play

Print Edition

FinanceAsia Print Edition