SGD New Issue Review : CORDLIFE GROUP LIMITED 3Y 5%
***NEW ISSUE: CORDLIFE GROUP LIMITED 3-YR SGD SENIOR UNSECURED BOND***
Issuer: Cordlife Group Limited
Issue Rating: Unrated
Status: Direct, unconditional, unsubordinated and unsecured Notes Issue
Distribution: As per Information Memorandum, Singapore selling restrictions Under Section 274/275 of SFA
Format/Docs: Reg S Bearer / Issuer’s SGD 500 million Multicurrency Debt Issuance Programme
Initial Price Guidance: Around 5% area, semi-annual, ACT/365 (Fixed)
Issue Date: [●] October 2014
Maturity Date: [●] October 2017
Governing Law: Singapore Law
Selling Restrictions: Sections 274 and/or 275 of the Singapore SFA
Hmmm… this is one of the names in my list yesterday at their 52 week lows. https://tradehaven.net/market/equity-thursday-watching-for-casualties/
Market Cap : SGD 272 mio.
Size of MTN programme : SGD 500 mio !
Revenues healthy and of all the 6 analysts covering the stock, 4 Buys/Overweight/Outperform and 2 Holds.
Lowly geared company although they just recently acquired a US 25 mio convertible note that pays 7% in China Cord Blood Bank and are also looking towards regional expansion.
Thus a 5% bond would fit nicely to fund the 7% note for a 2% profit. And everyone stands to gain.
Good luck !
Interested in the Cordlife bond issue but none of the banks I work with seem to know where I can get it from.
Maybank is the lead manager. So Kim Eng Securities will be carrying it too.
Thank you Tradehaven.
Looks like I will not be able to subscribe to this bond cos I do not have a relationship with Maybank.
Try a stock broker ?
Should not be too hard.
ORDERBOOK CIRCA S$180M
ISSUE SIZE AT S$120M, WILL NOT GROW
FINAL GUIDANCE AT 4.90%