SATS’ wholly-owned subsidiary World Flight Services has launched and priced its offering of US$100 million notes in aggregate principal amount of 4.578% fixed rate notes due 2028.
These notes, known as the Series 002 Notes, are part of the US$3 billion multi-currency debt issuance programme guaranteed by World Flight Services which was established by SATS on Nov 17, 2023 and updated on Sept 30, 2024.
DBS Bank is the sole coordinator, bookrunner and lead manager in relation to the Series 002 Notes.
The notes will be registered in denomination of US$200,000 each, and shall mature on Apr 28, 2028. It is expected to be issued on Apr 28, 2025.
The net proceeds from the issue of the notes will be used for refinancing of existing borrowings.
Shares in SATS closed 3 cents higher or 1.124% up at $2.70 on Apr 16.
