Keppel BN4 has priced the issue of EUR70 million ($102 million) floating rate notes due 2031 under its multicurrency medium term note programme.
The Series 017 Notes will bear interest at a floating rate based on the 6-month Euribor rate (Euro Interbank Offered Rate) plus an agreed spread, payable semi-annually in arrear with a tenor of 7 years.
Mizuho Securities Asia has been appointed as dealer for the Series 017 Notes, which are expected to be issued on or about May 8.
Net proceeds from the issue will be used by Keppel for general corporate and working capital purposes.
Keppel may, on giving not less than 30 days’ prior notice to the Noteholders, redeem all or some of the Series 017 Notes at par, together with interest accrued to but excluding the date fixed for redemption on each interest payment date falling on or after May 8, 2028.
Shares in Keppel closed 2 cents lower or 0.29% down at $6.84 on April 26.
