- Maiden bond issuance was more than 9 times over-subscribed
Singapore Exchange (SGX) has successfully launched and priced its debut US$250 million issuance of notes due 2026 (Notes) under its S$1.5 billion multicurrency debt issuance programme (MTN Programme) which was established in October 2019.
The Notes will carry a coupon rate of 1.234% per annum, payable semi-annually. The Notes are expected to mature in September 2026.
Moody’s Investors Service (Moody’s) has assigned Aa2 long-term local and foreign currency ratings to both the senior unsecured component of SGX’s MTN Programme and to the maiden drawdown. The MTN Programme and drawdown ratings are based on SGX’s Aa2 rating, which is the highest credit rating assigned to any exchange group by Moody’s.
The net proceeds from the issuance will be used to finance investments of SGX and its subsidiaries, to refinance existing debt as well as for general corporate purposes.
Mr Ng Yao Loong, Chief Financial Officer of SGX, said, “We would like to thank the investment community for their strong support and demand for our Notes. Our debut bond issuance, which attracted robust interest from high quality investors across the region, was more than 9 times over-subscribed. This follows the highly successful convertible bond issuance earlier this year, and reflects investors’ broad-based confidence in the resilience of our multi-asset business model and ability to navigate near-term challenges. Moving forward, we will continue to be financially-disciplined as we invest strategically to strengthen our value proposition to customers.”
Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd., and Standard Chartered Bank (Singapore) Limited are the joint lead managers of the Notes issuance.
