Singapore Airlines to offer S$500 million five-year bonds

SilkAir and Scoot planes on tarmac at Changi AirportSilkAir and Scoot planes on tarmac at Changi Airport

Singapore Airlines said on Tuesday it planned to issue S$500 million of five-year fixed-rate bonds under its S$2 billion medium term bond program, which was established last week.

If the offering is over-subscribed, Singapore Airlines may upsize it to a maximum of S$750 million, the carrier said in a filing to SGX before the market open on Tuesday.

The planned offering will include a placement to institutional investors and accredited investors, as well as a public tranche for retail investors in Singapore, it said.

A bookbuilding process with institutional investors will begin soon, it said.

The bonds, which will mature in 2024, will be issued in denominations of S$1,000, and are expected to be listed on the Singapore Exchange, the filing said.

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