Wee Hur Holdings has issued $175 million 4.80% fixed rate notes due 2030 as part of its $500 million multicurrency medium term note programme.
The net proceeds from the notes subscription will be used for the group’s general corporate purposes, including refinancing of existing borrowings and financing of investments, acquisitions, general working capital and/or capital expenditure of the group.
DBS Bank and United Overseas Bank are the joint lead managers and bookrunners for the Series 001 Notes, and Shanghai Pudong Development bank’s Singapore brand is the co-manager for the notes.
The notes are set to be listed on the SGX-ST on Nov 5, and contain conditions relating to change of control of the company.
Certain noteholders of the Series 001 notes are also the controlling shareholders, directors, and CEOs of the company, and their associates, and have been subscribed for about 15.29% of the total principal amount of the Series 001 Notes.
Shares in Wee Hur closed 2 cent lower or 2.685% down at 72.5 cents on Nov 4.
