ST Engineering prices US$700M notes due 2027

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

ST Engineering, via wholly owned subsidiary ST Engineering Urban Solutions USA, has priced US$700 million noted due 2027 at 3.375 percent, the company said in a filing to SGX Wednesday.

In addition, the company has priced US$300 million notes due 2032 at 3.75 percent, the filing said.

The announcement confirms a Shenton Wire article.

The net proceeds will by used by ST Engineering Urban Solutions USA to refinance the acquisition of TransCore, which was completed in March, the filing said.

The five-year notes will be series 002 under the company’s S$5 billion global medium term note program, while the 10-year notes will be series 003, the filing said.

ST Engineering said the notes are expected to be listed on SGX on 6 May.