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Aspial Corporation announced Thursday (31 March) that its second retail bond offering was upsized to S$200 million due to strong demand from investors.
The company originally planned to issue S$75 million worth of securities, with S$25 million to be sold via placement and S$50 million to be offered to the public.
Although the placement size remained unchanged, the maximum amount under the public issuance was increased to S$175 million as investors offered to buy S$254 million worth of bonds, representing an oversubscription rate of around five times.
“We are glad that our second retail bond offering has received strong interest for both the placement and public tranches,” said Aspial’s CEO Koh Wee Seng.
“Indeed, this marks another milestone in Aspial’s strategy of accessing the capital markets to raise significant volumes of medium term funding. Importantly, it reaffirms Aspial’s status as an offeror of retail bonds.”
The securities guaranteed by Aspial will mature in four years and come with an interest rate of 5.3 percent per annum. They are set to be issued today by the firm’s wholly-owned subsidiary, Aspial Treasury Pte Ltd, and will be listed on the Main Board of the Singapore Exchange (SGX) by Monday (4 April).
Aspial group’s real estate business World Class Land owns a portfolio of property development
projects and investment properties in Singapore, Australia and Malaysia. Through its
subsidiaries, Aspial owns Kensington Square, CityGate, Urban Vista, Parc Rosewood, The Hillford and Waterfront@Faber projects in Singapore.
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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