fbpx

Type to search

Singapore Airlines Launches 7-Year US Dollar Bond Issue

The issue consists of one tranche, and price guidance to investors has been set at Treasuries plus 210 basis points, the term sheet said


Singapore Airlines
The deal allowed the airline to swap part of its order for 15 A320neo jetliners and two A350-900 passenger versions it previously ordered from Airbus and remain to be delivered. Reuters file photo.

 

Singapore Airlines on Wednesday launched a seven-year US dollar bond offering, according to term sheet details.

The issue consists of one tranche, and price guidance to investors has been set at Treasuries plus 210 basis points, the term sheet said.

Singapore Airlines did not immediately respond to a request for comment.

The airline is aiming to raise $500 million to $750 million, two sources with direct knowledge of the matter said on Tuesday.

The deal is only the second US dollar bond offering from Singapore Airlines, with the first made in January 2021 when it raised $500 million.

It plans to use the cash raised to buy new planes, make aircraft related payments and refinance some existing debt, the term sheet said.

Final pricing for the bond is due to be set later on Wednesday.

 

  • Reuters with additional editing by Kevin Hamlin

 

ALSO READ:

 

Singapore Airlines Picks Banks for $500m-750m USD Bond Issue

 

Covid-grounded Singapore Airlines dives into the red again

 

Upbeat Singapore Airlines raises $500 million in bond issuance

 

 

 

Kevin Hamlin

Kevin Hamlin is a financial journalist with extensive experience covering Asia. Before joining Asia Financial, Kevin worked for Bloomberg News, spending 12 years as Senior China Economy Reporter in Beijing. Prior to that, he was Asia Bureau Chief of Institutional Investor for ten years.