Singapore debt listings Tuesday: Shanghai Land (Group) and State Power Investment Corp.

U.S. one-dollar currency notes; taken September 2018.U.S. one-dollar currency notes; taken September 2018.

These are entities which announced debt listing confirmations in Singapore on Tuesday, 9 November 2021: Shanghai Land (Group) and State Power Investment Corp.’s subsidiary SPIC Preferred Co. No.1.

SPIC Preferred Co. No.1

SPIC Preferred Co. No.1 said Tuesday its US$900 million 3.38 percent preference shares (ISIN code: XS2403671493) would be listed on SGX’s bond market on Wednesday. Initial guidance for the preference shares was for 3.8 percent, according to a BondEvalue report; bond prices move inversely to yields.

The preference shares, which will trade in U.S. dollars, will be in denomination of US$200,000, which is also the minimum board lot size, the company said in a filing to SGX.

The lead managers and bookrunners of the preference shares are Merrill Lynch (Asia Pacific), ABCI Capital, BOCI Asia, BOCOM International Securities, Industrial and Commercial Bank of China (Asia) and CLSA, the filing said.

SPIC Preferred Co. No.1 is a wholly owned subsidiary of China state-owned State Power Investment Corp. (SPIC) produces hydro-, thermal and nuclear power.

Shanghai Land (Group)

Shanghai Land (Group) said Tuesday its 750 million yuan 3.70 percent bonds due 2024 (ISIN code: SGXT85497301) would be listed on SGX’s bond market on Wednesday.

The notes, which will trade in Chinese yuan, will be in denomination of 1 million yuan, with a minimum board lot size of 200,000 yuan, with a minimum of five lots, the company said in a filing to SGX.

The lead manager and bookrunner of the notes is Shanghai Pudong Development Bank’s Hong Kong branch, the filing said.

Shanghai Land (Group) is a state-owned construction and real estate company.

 

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