Singapore Airlines establishes S$2 billion medium-term bond program

Singapore Airlines plane on the ground at Singapore’s Changi Airport; taken November 2018.Singapore Airlines plane Changi Airport.

Singapore Airlines said Thursday that it established a S$2 billion medium-term bond program, which may issue bonds in series or tranches in either Singapore dollars or other currencies.

The bonds may be issued in various amounts and tenors, and could have interest at fixed, floating, variable or hybrid rates, it said in a filing to SGX early on Thursday.

The net proceeds will be used to refinance existing borrowings, finance investments and fixed assets, and for general working capital purposes, or for other uses which will be specified in the pricing information, it said.

Singapore Exchange Securities Trading (SGX-ST) has been applied to for permission to deal in and for the quotation of any bonds issued, it said.

DBS Bank was appointed as arranger of the program, while DBS Bank, OCBC and UOB were appointed as program dealers, the filing said.

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