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SIA prices S$668.63M bonds in multi-currency medium-term note programme

Mary Alavanza
By Mary Alavanza

SINGAPORE: Singapore Airlines (SIA) prices US$500 million (S$668.63 million) worth of senior unsecured notes under its multi-currency medium-term note programme, according to DBS.

The Edge Singapore reported that DBS, Citigroup, and JP Morgan are the bonds’ joint global coordinators and bookrunners.

The fixed-rate notes have a 5.25% per annum coupon rate and a reoffer price of 99.646, yielding 5.296%.

For comparison, they have a reoffer spread of 110 basis points higher than the 10-year US Treasury bonds due Feb 15, 2023, which carry a yield of 4.196%. Denominated in US dollars (USD), these notes boast a ten-year tenor and will pay out semi-annually.

The settlement date for the trade is on March 21, with the notes maturing on the same date in 2034.

According to SIA, the proceeds from the notes will be used for aircraft purchases, aircraft-related payments, and general corporate or working capital purposes, including refinancing existing borrowings.

On March 14, shares in SIA closed 3 cents higher or 0.47% up at S$6.42. /TISG

Read also: Singapore Airlines: Non-stop flights to London Gatwick coming soon

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