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Vallianz eyes $79m from short term notes issue
Offshore vessels operator Vallianz Holdings is planning to raise SGD100m ($79m) from the issuance of two-year short term notes.
Singapore-listed Vallianz said the net proceeds arising from the issue of the notes will be used for general corporate purposes, including refinancing of borrowings, financing investments and capital expenditure requirements and the general working capital.
The notes, due to mature on 1 April 2016, will carry a coupon of 7.2% per annum payable semi-annually in arrear. The issue date of the notes is currently expected to be on 1 April 2014.
DBS Bank has been appointed as the sole lead manager and bookrunner for the notes.
Last year, Vallianz posted a strong set of results with net profit soaring 211% year-on-year to $7.49m and revenue rising 73% to 19.99m.
Source: Seatrade Global
Singapore-listed Vallianz said the net proceeds arising from the issue of the notes will be used for general corporate purposes, including refinancing of borrowings, financing investments and capital expenditure requirements and the general working capital.
The notes, due to mature on 1 April 2016, will carry a coupon of 7.2% per annum payable semi-annually in arrear. The issue date of the notes is currently expected to be on 1 April 2014.
DBS Bank has been appointed as the sole lead manager and bookrunner for the notes.
Last year, Vallianz posted a strong set of results with net profit soaring 211% year-on-year to $7.49m and revenue rising 73% to 19.99m.
Source: Seatrade Global
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