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Singapore-listed Oxley Holdings said Thursday (4 November) that its maiden offering of retail bonds was oversubscribed with an overall subscription rate of approximately 3.6 times of the original offer size.
The four-year retail bonds, which will pay a fixed rate of 5 percent a year, have an initial offer size of S$125 million.
At the close of the offer of the bonds at noon of Tuesday (3 November), applications received were approximately $349 million from the public and another $100 million from the placement segment. This prompted Oxley to raise the total issue size to S$300 million – $225 million to the public offer and $75 million under the placement tranche.
According to Oxley, net proceeds from the offer are presently intended to be used for the general
corporate purposes, working capital and capital expenditure requirements.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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