By OH BOON PING
NUS issues $250m in bonds
By Oh Boon Ping
THE National University of Singapore (NUS) has issued $250 million
of notes with a coupon rate of 3.2 per cent to fund working capital
needs and capital spending.
Due on June 12, 2014, the issue is part of a billion-dollar
multi-currency medium-term note programme set up in Oct 2005, and
is expected to be assigned an 'Aaa' rating by Moody's Investors
Service. HSBC is lead manager and bookrunner. The issue marks NUS's
bond market debut and is the first bond issue by a university in
the Asian bond market.
Strong interest from investors resulted in the order book being
filled within an hour of launch. As a result, the deal was priced
around 70 basis points above the five-year Singapore-dollar swap
offer rate.
'We are very pleased with the positive response which we have
received from investors for our debut issue,' an NUS spokesman
said. 'This issue helps us establish our NUS' presence in Asian
bond market and diversify our funding sources.'
http://www.businesstimes.com.sg/sub/companies/story/0,4574,336494,00.html?
