ARA Asset Management proposes S$100 million notes issue

Singapore two-dollar billsSingapore two-dollar bills

ARA Asset Management proposed on Monday issuing S$100 million of 4.15 percent notes due 2024 as series 003 under its S$1.5 billion multicurrency debt issuance program.

“The net proceeds arising from the issue of the Series 003 Notes will be used for general corporate purposes, including refinancing existing borrowings, and financing investments,” ARA Asset Management said in a filing to SGX after the market close on Monday.

The notes are expected to be issued on or around 23 April, it said.

OCBC was appointed the sole lead manager for the notes, the filing said.


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