ST Engineering sets up US$1.5 billion note program

ST Engineering display at CommunicAsia conference in Singapore in 2019.ST Engineering display at CommunicAsia conference in Singapore in 2019.

ST Engineering’s subsidiary ST Engineering North America set up a US$1.5 billion U.S. commercial note program, the company said in a filing to SGX Monday.

Under the program, ST Engineering may occasionally issue short-term unsecured promissory notes for tenors of up to 397 days, the filing said.

The proceeds will be used for general corporate purposes, ST Engineering said.

The notes will be offered only to eligible investors and won’t be listed on any exchange or market, ST Engineering said.

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