Oxley reopens S$155M bond offering: Client note

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Oxley Holdings has re-opened its S$155 million 6.9 percent senior unsecured notes due 2024 (ISIN code: SGXF85882482), according to a client note seen by Shenton Wire Tuesday. 

The notes will be issued at 100 percent of face value plus accrued interest from early January through 12 April, the client note said. The client note said the new bonds will be immediately fungible with existing notes. 

The proceeds will be used for general corporate purposes, including refinancing borrowings and working capital and capital expenditure, the client note said. 

The client note said certain noteholder(s) who are both controlling shareholder(s) and director(s) of the company and their family and business associates may subscribe for a “substantial portion” of the offering, and may be able to exercise rights binding on all noteholders.

“Additionally, this may reduce the liquidity of the notes in the secondary trading markets,” the client note said.

The minimum investment size is S$250,000, the client note said.

The notes were issued under Oxley’s US$1 billion euro medium-term note program, the client note said. 

The joint lead managers and bookrunners are Credit Suisse, DBS Bank and HSBC, the client note said.

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