A couple of days ago, Oxley Holdings announced that they were issuing $150 million worth of 4-year bonds with an interest rate of 5.15% p.a.
This offer comes hot on the heels of similar bonds offered by other companies like Aspial and Perennial. The interesting thing is that all of them are in the property development business.
Applications for the bonds are already open and will close on 16 May 2016 at 12 noon. Oxley bonds under the public offer is subject to a minimum of S$2,000 per application and retail investors may subscribe for higher amounts in multiples of S$1,000.
Applications for the Oxley bonds under the public offer may only be made through the ATMs of DBS Bank (including POSB), OCBC Bank and the UOB Group, the internet banking websites of DBS Bank, OCBC Bank and the UOB Group, or the mobile banking interface of DBS Bank.
Oxley bonds are expected to be issued on 18 May 2016 and commence trading on the Main Board of the SGX-ST at 9:00 a.m. on 19 May 2016.
The placement offer for Oxley bonds is already fully subscribed.
Oxley previously also raised $300 million through a bond offering in October 2015. Back then, the 4-year bond paid annual interest of 5%.
The relevant documents for the Oxley bond offering can be found below:
Oxley Bond Offer Information Statement (Prospectus)