The Business Times
business-time-50

Hotel Properties prices 5-year notes at 5.1%

google-preferred-sourceAdd BT as a preferred source
Claudia Chong

Claudia Chong

Published Tue, Apr 23, 2024 · 11:21 PM
    • The notes were issued under the group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017.
    • The notes were issued under the group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    HOTEL Properties (HPL) has priced S$190 million in fixed-rate senior unsecured notes due May 3, 2029, at 5.1 per cent. Coupon payments will be made semi-annually in arrears on May 3 and Nov 3 each year.

    The notes were issued under the hotel operator and property group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017.

    Net proceeds from the issuance will be used to finance working capital requirements and refinance existing borrowings, including redeeming the S$160 million 4.4 per cent perpetual securities the group issued.

    DBS, OCBC and UOB were the joint bookrunners for the issue.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Hotel Properties LtdBonds

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Air India has been one of the foreign carriers most affected by the outbreak of hostilities in the Middle East.

    Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More