Thakral Launches, Prices SG$70 Million Bond Offering; Shares Up 4%

MT Newswires04-08

Thakral (SGX:AWI) launched and priced SG$70 million worth of 5% fixed rate bonds due 2029, according to a Tuesday filing with the Singapore Exchange.

Shares of the property investment firm were up nearly 4% in Wednesday trading.

The Series 001 bonds are part of the company's SG$150 million multicurrency medium-term bond program, with Phillip Securities appointed as the sole bookrunner.

Proceeds from the issue will be used to finance an additional stake in Thakral Investments, while the remaining balance will be utilized for a mixed-use development of a land site, for general corporate purposes and to refinance existing borrowings.

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