SINGAPORE Airlines is preparing to issue a 10-year dollar bond that could raise at least US$300 million, according to three sources with direct knowledge of the matter.
Initial price guidance for the deal has been set at the 10-year US Treasury rate plus 150 basis points, a term sheet seen by Reuters showed. The size of the deal could reach US$500 million, one of the sources added.
The sources could not be identified discussing confidential information.
“At this juncture, a 10-year US dollar bond issuance looks attractive,” a Singapore Airlines spokesperson said, adding the company regularly reviewed its funding requirements versus its existing cash position.
Orders worth more than US$1 billion have been lodged on Thursday by potential investors, a book message sent by the deal’s bankers showed. REUTERS
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