Megaworld Corp. is looking to raise as much as $350 million from an upcoming offshore bond sale.
On Friday, it told the stock exchange that it will be offering the seven-year senior dollar notes at a 4.125% coupon rate.
The proceeds from the unsecured fixed-rate bonds will be injected into its capital spending budget and will be used for its land-banking and refinancing of loans.
Megaworld is planning to list the Regulation S-only bonds on the Singapore Exchange Securities Trading Limited.
The company has tapped Citigroup Global Markets Ltd. and The Hongkong and Shanghai Banking Corp. Ltd. as joint global coordinators and lead managers for the issuance. The banks are also joint bookrunners, along with Credit Suisse (Singapore) Ltd. and J.P. Morgan Securities plc.
Further, it has appointed BDO Capital & Investment Corp. as the domestic lead manager.
On Friday, shares in Megaworld dropped 2.23% to close at P3.07 each. — Adam J. Ang
