Singapore Power launches benchmark 12-year bond

Singapore Power set a benchmark for the local market on Thursday with the first ever 12-year corporate bond from the Lion City.
Singapores soon-to-be-privatized Singapore Power SP, yesterday Thursday launched the first ever 12-year corporate bond to be issued in Singapore dollars via joint lead managers JPMorgan and OCBC Bank.

The S$300 million $166 million issue marked the companys first visit to the local debt market this year and the first since it launched a debut S$300 million domestic seven-year offering last August.

SP will use the money to repay existing debt ahead of an IPO scheduled for later this year. That transaction could raise the company over $1billion via joint lead managers DBS, Merrill Lynch and UBS Warburg.

The latest bond offer, rated triple-A by Standard Poors,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222