SG debt listings Tuesday: India Clean Energy, Shriram Transport Finance, KNOC, Ex-Im Bank of Korea, DaFa Properties

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

These are entities which announced debt listing confirmations in Singapore on Tuesday, 18 January 2022: India Clean Energy Holdings, Export-Import Bank of Korea, Shriram Transport Finance Co., Korea National Oil Corp., DaFa Properties Group, Taichen Development (BVI) and HKT Capital No.6. 

India Clean Energy Holdings US$400M notes due 2027

India Clean Energy Holdings said Tuesday its US$400 million 4.5 percent senior secured notes due 2027 (ISIN codes: US45409MAA18 and USV4605MAA63) would be listed on SGX’s bond market on Wednesday. 

The notes, 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 filing did not provide the names of bookrunners or managers. 

India Clean Energy Holdings is a Mauritius-based wholly owned subsidiary of ReNew Energy Global, the parent of ReNew Power, according to a Fitch Ratings note from early January. ReNew Energy Global was listed on Nasdaq in August 2021. 

“ReNew’s large size and diversified renewable-asset portfolio provide economies of scale and operating leverage, mitigating project concentration risk,” the Fitch note said. “We believe the long-term power purchase agreements (PPAs) for the group’s operating assets offer price certainty and long-term cash flow visibility. More than 90 percent of group capacity is under PPAs with tenors of 20-25 years.”

Export-Import Bank of Korea US$1B notes due 2025

Export-Import Bank of Korea said Tuesday its US$1 billion 1.25 percent notes due 2025 (ISIN code: US302154DL06) would be listed on SGX’s bond market on Wednesday. 

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

The filing did not provide the names of bookrunners or managers. 

The Export-Import Bank of Korea provides financial support, including credit, to South Korean companies for export and import deals, overseas investments and developing natural resources overseas.

Export-Import Bank of Korea US$1B notes due 2027

Export-Import Bank of Korea said Tuesday its US$1 billion 1.625 percent notes due 2027 (ISIN code: US302154DM88) would be listed on SGX’s bond market on Wednesday. 

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

The filing did not provide the names of bookrunners or managers. 

The Export-Import Bank of Korea provides financial support, including credit, to South Korean companies for export and import deals, overseas investments and developing natural resources overseas.

Export-Import Bank of Korea US$1B green notes due 2032

Export-Import Bank of Korea said Tuesday its US$1 billion 2.125 percent green notes due 2032 (ISIN code: US302154DN61) would be listed on SGX’s bond market on Wednesday. 

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

The filing did not provide the names of bookrunners or managers. 

The Export-Import Bank of Korea provides financial support, including credit, to South Korean companies for export and import deals, overseas investments and developing natural resources overseas.

Shriram Transport Finance US$475M notes due 2025

Shriram Transport Finance said Tuesday its US$475 million 4.15 percent notes due 2025 (ISIN code: US825547AE20 and USY7758EEH00) would be listed on SGX’s bond market on Wednesday. 

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

The filing did not provide the names of bookrunners or managers. 

India-based Shriram Transport Finance, part of the Shriram group, is a non-bank financial company registered with the Reserve Bank of India. It provides commercial vehicle and working capital loans.

Korea National Oil US$550M notes due 2025

Korea National Oil Corp., or KNOC, said Tuesday its US$550 million 1.75 percent notes due 2025 (ISIN codes: US50066PAR10 and US50066RAR75) would be listed on SGX’s bond market on Wednesday. 

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

KNOC is a state-owned oil company with operations in exploration, development and production of oil and gas in countries including Libya, Vietnam, Peru, Yemen, Venezuela, the U.S., Iraq and other nations. 

Korea National Oil US$550M notes due 2027

Korea National Oil Corp., or KNOC, said Tuesday its US$550 million 2.125 percent notes due 2027 (ISIN code: US50066PAS92 and US50066RAS58) would be listed on SGX’s bond market on Tuesday. 

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

KNOC is a state-owned oil company with operations in exploration, development and production of oil and gas in countries including Libya, Vietnam, Peru, Yemen, Venezuela, the U.S., Iraq and other nations. 

Korea National Oil US$400M notes due 2032

Korea National Oil Corp., or KNOC, said Tuesday its US$400 million 2.625 percent notes due 2032 (ISIN codes: US50066PAT75 and US50066RAT32) would be listed on SGX’s bond market on Wednesday. 

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

KNOC is a state-owned oil company with operations in exploration, development and production of oil and gas in countries including Libya, Vietnam, Peru, Yemen, Venezuela, the U.S., Iraq and other nations. 

DaFa Properties Group US$138.4M notes due 2022

DaFa Properties Group said Tuesday its US$138.384 million 12.5 percent senior notes due 2022 (ISIN code: XS2430926712) would be listed on SGX’s bond market on Wednesday. 

The notes, which will trade in U.S. dollars, will be in denomination of US$150,000, which is also the minimum board lot size, the company said in a filing to SGX. 

Hong Kong-listed DaFa Properties is a real estate developer operating in the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area and other regions in China. 

Taichen Development (BVI) US$31.1M notes 

TaiChen Development (BVI) said Tuesday its US$31.1 million 12.5 percent senior notes due no later than 2022 (ISIN code: XS2358504277) would be listed on SGX’s bond market on Wednesday. 

The notes, 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. 

TaiChen Development (BVI) is a subsidiary of Longjitaihe Property, which is a property developer, manager and leasing operator based in China. 

HKT Capital No.6 US$650M notes due 2032

HKT Capital No.6 Ltd. said Tuesday its US$650 million 3 percent guaranteed notes due 2032 (ISIN code: XS2414130711) would be listed on SGX’s bond market on Wednesday. 

The notes, 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. 

HKT Capital No.6 is a wholly owned subsidiary of Hong Kong Telecommunications (HKT), with the notes guaranteed by HKT and its parent HKT Group. 

Moody’s Ratings Service rated the offering at Baa2.

“HKT is the best-in-class quad-play telecommunications services provider in Hong Kong SAR, China (Aa3 stable), with leading market positions in all major services it provides, including fixed line, broadband, mobile and pay television,” Gloria Tsuen, a Moody’s Ratings Service vice president and senior credit officer, said in a press release. That mitigates the weaker credit quality of the company’s parent, PCCW, she added. 

 


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