Vin’s Holdings is expecting to raise between $3 million to $5 million from the launch of its $20 million multicurrency short-term unsecured and unsubordinated commercial paper facility programme.
As part of this programme, Vin’s has announced the inaugural issue of the commercial papers, known as the 3-month SGD Commercial Paper Series 001.
It is offered for subscription only to accredited and institutional investors at an interest rate of 4.1% p.a. with a tenor of 91 days.
Vin’s expects to use the net proceeds mainly for the group’s general working capital, including but not limited to the repayment of existing loans and interest.
Shares in Vin’s Holdings closed 1.5 cent lower or 5.556% down at 25.5 cents on Jan 12.
