Fraser and Neave (F&N) is the next company here to issue corporate bonds to the public.
F&N is offering S$150 million of five-year (2.48% p.a.) bonds and S$150 million of 7-years (3.15% p.a.) bonds.
The bonds will be issued in denominations of S$1,000 (minimum of 5k) and will pay interest semi-annually. They will be issued on or about 28 March 2011 and will be cleared through The Central Depository (Pte) Limited (the “CDP”).
Applications for the Public Offer Bonds must be made at any ATM of DBS Bank (including POSB), Oversea-Chinese Banking Corporation Limited or United Overseas Bank Limited or its subsidiary, Far Eastern Bank Limited or through the internet banking website of DBS Bank (the “Electronic Applications”).
An application for the Public Offer Bonds is subject to a minimum of S$5,000 in principal amount of Bonds per application or higher amounts in integral multiples of S$1,000 thereof.
The offer document can be found here: F-&-N Bonds Prospectus
Timeline for the F&B bond issue is as follows:
Lodgment of Offer Information Statement : 16 March 2011
Opening date and time for applications for the Public Offer Bonds : 17 March 2011 at 9.00 a.m.
Last date and time for applications for the Public Offer Bonds : 23 March 2011 at 10.00 a.m.
Balloting of applications for the 5-Year Bonds under the Public Offer, if necessary. Commence returning or refunding of application moneys to unsuccessful or partially successful applicants : 24 March 2011
Balloting of applications for the 7-Year Bonds under the Public Offer, if necessary. Commence returning or refunding of application moneys to unsuccessful or partially successful applicants : 25 March 2011
Expected Issue Date of the Bonds : 28 March 2011
Expected date of commencement of trading of the Bonds on the Main Board of the SGX-ST : 29 March 2011