SGD New Issue Review : CORDLIFE GROUP LIMITED 3Y 5%

***NEW ISSUE: CORDLIFE GROUP LIMITED 3-YR SGD SENIOR UNSECURED BOND***

Issuer:  Cordlife Group Limited
Series:  001
Issue Rating:  Unrated
Status: Direct, unconditional, unsubordinated and unsecured Notes Issue
Size:  TBD
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)
Tenor:  3-Year
Issue Date:    [●] October 2014
Maturity Date:   [●] October 2017
Denomination:    SGD250K
Governing Law: Singapore Law
Listing:    SGX-ST
Clearing: CDP
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.

cordlife revenues

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 !