of 10-year US-dollar bonds at a reoffer price of 99.646 per cent of their nominal value to yield 5.296 per cent.
The fixed-rate notes will bear a coupon rate of 5.25 per cent per annum until their maturity on March 21, 2034, said DBS on March 14.DBS and Citigroup are joint global coordinators for the bond.The yield for the bonds represents a spread of 110 basis points over 10-year US Treasuries, which were yielding 4.196 per cent.
Net proceeds from the proposed issue will be used for aircraft purchases, aircraft-related payments, as well as for general corporate or working capital purposes. This includes refinancing existing borrowings of SIA, said DBS.SIA’s latest issuance comes as the flag carrier is set to redeem its $750 million in outstanding 3.03 per cent bonds on the maturity date of March 28.
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