Neptune Orient steers into S$ bonds after nine year lay-off
Singaporean shipping company Neptune Orient Lines returned to its domestic bond market after a nine year lay-off last Friday, raising S$260m ($192.1m) at the end of a busy week for debt bankers in the country.
DBS placed the 10 year non-call five bond for the company, its first issue since a S$540m eight year deal in June 2001. The new bond priced at par and paid a coupon of 4.65%, equivalent to around 230bp over the swap offer rate (SOR).
DBS had sounded
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