PSA docks $500m in tight space after six year absence

sea port_230px
By Rashmi Kumar
07 Apr 2016

Singapore’s PSA International braved a crowded market on Tuesday to make a return to dollar bonds after a six year absence. The rarity of the name worked in the issuer’s favour, allowing it to meet its key pricing objective.

The last time debt investors saw PSA — one of the world’s largest port operators — was in August 2010, when it printed a $500m 3.875% 2021, according to Dealogic. 

Following good feedback from a roadshow and a stable market on Tuesday, the leads decided to open ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial