Seatrium unit prices S$400 million in fixed-rate notes due 2031 at 2.95%

[SINGAPORE] Seatrium has priced S$400 million in fixed-rate notes due Apr 28, 2031, at 2.95 per cent per annum.

The notes, which will be issued by its wholly owned subsidiary Seatrium Financial Services, are part of its S$3 billion multicurrency debt-issuance programme, the group said in a bourse filing on Monday (Apr 20).

The notes are payable semi-annually in arrear and will be issued in denominations of S$250,000 each.

They will be issued on Apr 28, 2026, and are guaranteed by Seatrium.

DBS and Standard Chartered Bank (Singapore) have been appointed the global coordinators, lead managers and bookrunners of the notes. HSBC (Singapore) has been appointed as the joint lead manager and bookrunner.

Net proceeds from the issue will be used for refinancing existing borrowings; funding potential acquisitions and investment opportunities; as well as working capital and capital-expenditure requirements.

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The proceeds will also go towards funding the operating and capital expenditures of Seatrium’s subsidiaries, and providing internal loans to entities within the group to meet its financing needs.

Shares of Seatrium ended Monday 2.9 per cent or S$0.07 lower at S$2.35, before the bourse filing.