Wing Tai pricing five-year SGD bonds: Client note

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Wing Tai Holdings is pricing a five-year Singapore dollar benchmark-sized senior fixed-rate bond, according to a client note seen by Shenton Wire.

The initial price guidance is in the 4.45 percent area, with a landing guidance of 4 percent, the client note said.

A benchmark offering suggests at least S$250 million will be sold.

The property developer has earmarked the proceeds to finance working capital requirements and investments, and to refinance existing borrowings, the client note said.

Last week, Wing Tai said it planned to redeem all of its S$150 million 4.08 percent senior perpetual capital securities.

The sole lead manager and bookrunner is OCBC Bank, the client note said.

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