SingPost prices S$250M perpetual securities

Singapore Post post boxes at the SingPost mCentre March 2018.Singapore Post post boxes.

Singapore Post (SingPost) has priced S$250 million subordinated fixed-rate perpetual securities at 4.35 percent until the first reset date, the postal and logistics operator said in a filing to SGX Wednesday. 

The net proceeds will be used for general corporate purposes, including refinancing existing borrowings, SingPost said.

The initial interest rate will run from 6 April 2022 to 6 July 2027, which is the first reset data, when it will reset to the five-year SORA-OIS, plus an initial spread of 2.183 percent, plus a step-up margin of 0.25 percent per annum, the filing said.

The notes will be issued via wholly owned subsidiary SingPost Group Treasury, under the S$1 billion multicurrency debt issuance program, the filing said. 

DBS Bank, HSBC’s Singapore branch and OCBC were appointed as joint lead managers and bookrunners, the filing said.

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