st-engineering-prices-500-million-bond

ST Engineering prices $500 million bond

The Singapore defence and engineering group re-opens the Asian market for the highest quality issuers by tapping its MTN programme.

Singapore Technologies Engineering STE sold $500 million of 10-year notes late last night Hong Kong time, making it the first triple-A-rated borrower from non-Japan Asia to tap the international bond markets since 2006.

On Monday July 7 STE said it planned to sell $1.2 billion worth of medium-term notes MTN in several currencies to finance future investments. But the conglomerate, majority-owned by Singapore sovereign wealth fund Temasek, plans to stagger its capital raising over time and had no need to use the full facility at this time.

Based in the Lion City, STE is an integrated defence and engineering group operating in 24 countries.

The issuing entity, ST Engineering Financial 1 Ltd, is a...

¬ Haymarket Media Limited. All rights reserved.

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