Singapore Corporate Bond New Issue Review: GITI Tire Pte Ltd 3Y 6.125%
ISSUER: GITI Tire Pte. Ltd.
SERIES: 001
STATUS: Direct, unconditional, unsubordinated and unsecured Notes
RATING: Unrated
FORMAT: Reg S, S274 & 275 of SFA, issuance off S$750 Million Multicurrency Medium Term Note Programme
ISSUE SIZE: Capped at $100MM
TENOR: 3 years
ISSUE DATE: [●] November 2014
MATURITY DATE: [●] November 2017
INITIAL PRICE GUIDANCE: 6.125% area
REDEMPTION UPON CHANGE OF CONTROL: 101%, in accordance with the Programme
REDEMPTION FOR TAXATION REASONS: Yes, in accordance with the Programme
PAYMENT: Semi-annual, actual/365 (fixed)
DETAILS: SGD250K/ Multicurrency Medium Term Note Programme/Singapore Law/CDP
LISTING: SGX-ST
– New Giti Tire SGD 3yrs announced with strong IOIs received post SG roadshow
– Initial price guidance: 6.125% area
– Pb selling commission: 50 cents
– Issue size: TBD
– Timing: This week’s business, as early as today
Comparables:
Tan Chong International 2.......