Thursday, January 17, 2008
IOI sells US$600m exchangeable bond
IOI Corp, one of the country’s largest palm oil producers, priced a US$600 million exchangeable bond offering on January 8 this year.The five-year bond settled on January 15, 2008, and is due on January 15, 2013, IOI said in a joint statement with global financial services company Citi.The offering is the largest exchangeable bond offering by a Malaysian company since 2002, they said.The bonds were issued at par and carried a zero per cent coupon which priced to yield 1.25 per cent per annnum. They are listed on the Singapore Exchange Securities Trading Ltd and the Labuan International Financial Exchange.“IOI has taken the lead in seeking innovative financial solutions to meet our expansion plans. With the positive momentum in the palm oil sector, the outcome of this transaction demonstrates the strong investor confidence in the sector and the company,” said IOI group executive chairman Tan Sri Lee Shin Cheng. — Bernama
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment