Singapore Bonds In The News : Noble, Keppel & Sembcorp Marine
China Investment Corp. Says to Continue Supporting Noble Group
(Bloomberg) — CIC Exec VP Xie Ping says appointment of COFCO President Yu Xubo as Noble Group Non-Exec Director to bring “deep understanding of business dynamics in China” to co.: Noble statement on Yu’s appointment.
NOBLE USD 6% PERP 76/78 (+2)
NOBLE USD 3.625% 03/2018 95.50/96.50 (+0.5)
NOBLE USD 6.75% 01/2020 103.25/104 (+1.25)
Keppel FELS, Sembcorp Marine deny allegations of Brazil bribery
June 24 (Business Times) — Singapore
SINGAPORE shipbuilders Keppel FELS Ltd and Sembcorp Marine Ltd’s unit Jurong Shipyard Pte have firmly denied any allegations of participation in Brazil’s ongoing bribery scandal involving contracts to build deep-water drilling vessels.
Bond prices unchanged.
KEPPEL 3.145% 02/2022 100.25/100.5
KEPPEL 3.1% 10/2020 101.25/101.60
SEMBCORP 4.75% PERPETUAL 100.375/100.875
SEMBCORP 5% PERPETUAL 102.25/102.50
JURONG SHIPYARD 2.95% 09/2021 98.75/99.25
JURONG SHIPYARD 3.85% 09/2029 98.625/99.40
EZRA BRD PROPOSES TO ISSUE UP TO S$200M IN CONV. BONDS DUE 2020
Ezra to Raise Up to $300m for Balance Sheet, More Flexibility
By Colin Keatinge
(Bloomberg) — Co. reports proposed renounceable underwritten rights issue and issue of convertible bonds to raise proceeds of up to $300m.
Proceeds will be used to repay S$225m fixed rate notes and S$150m perpetual securities.
Repayment of above-mentioned securities will reduce Ezra’s net gearing thereby strengthening its balance sheet and putting co. “in good stead to tap future growth opportunities,” according to statement from Ezra
Credit Suisse named sole financial adviser, sole global coordinator and lead manager of rights offer, and sole bookrunner of convertible bonds issue
Do you think Noble paid a small fortune for the issuance to be fully underwritten? 😀
Now, how would they account for that in the books ?
I meant in the fee %. I’m not sure that many potential investors will want to sink more money into the company (esp. for rights issue).
Rights issue is hostage situation for major stakeholders. Don’t buy, lose out. Buy, double up.
Hi TH,
Today Noble has just announced that they will be redeeming their 6.625% 2020 (Aug 5th) senior notes.
Is this fixed dated bonds with early redemption feature? or is this perps with 2015 call dates?
thanks!!
Noble Group to Redeem $235m of 6.625% Sr Notes Due 2020
(Bloomberg) — Given notice to holders to redeem in whole all outstanding securities on Aug. 5 at 100% principal amount.