Sep 27, 2018 14:38

Surbana Jurong priced S$350 million 7-year SGD senior bond

Surbana Jurong bond offering

  • Surbana Jurong’s maiden bond offering
  • One of the largest corporate bond issuances in the Singapore dollar (SGD) bond market year-to-date in 2018 at S$350 million
  • Robust reception resulting in bonds 2.0x over subscribed
  • Bonds well distributed to high quality investor accounts with participation from 67 investors

Singapore, 27 September 2018 – Surbana Jurong Private Limited (“Surbana Jurong”) has priced a S$350 million SGD senior bond due 2025 (“Bond Offering”), following the establishment of its US$1 billion Multicurrency Debt Issuance Programme on 14 September 2018.  This is one of the largest corporate bond issuances in the SGD bond market year-to-date for 2018.

The Bond Offering received a robust reception among high quality investors, with participation by 67 investors. This resulted in the bonds being 2.0x oversubscribed.

This debut Bond Offering marks Surbana Jurong’s first step in building a long term platform to tap the international debt capital markets and further diversifies the Company’s sources of funding.

Surbana Jurong intends to use the net proceeds from the Bond Offering for refinancing of existing debts, and to finance potential acquisition and other business opportunities. The proceeds will also be used for general corporate and working capital purposes.

Mr Wong Heang Fine, Group CEO of Surbana Jurong, commented, “We are pleased that our maiden bond offering is well received by investors in the global debt capital markets.  This is an endorsement of our business and growth strategy. Since 2015, we have transformed to become one of the largest Asia-based urban and infrastructure consulting firms.  Our global status requires us to maintain a healthy financial position so that we can continue to deepen our competencies and expand our suite of solutions to better serve our clients.”

The Bond Offering is scheduled to settle on 3 October 2018.

DBS Bank Ltd. is the Sole Lead Manager of the Bond Offering and Sole Arranger of the US$1 billion Multicurrency Debt Issuance Programme.

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About Surbana Jurong

Surbana Jurong is one of the largest Asia-based urban and infrastructure consulting firms. Leveraging technology and creativity, Surbana Jurong provides best-in-class consultancy solutions across the entire value chain of the urbanisation, industrialisation and infrastructure domains.

Headquartered in Singapore, the Surbana Jurong Group has a global workforce of over 14,500 employees in more than 120 offices across over 40 countries in Asia, Australia, UK, the Middle East, Africa and the Americas, and a total fee revenue of around S$1.4 billion.

Surbana Jurong has a track record of close to 70 years, and has built more than a million homes in Singapore, crafted master plans for more than 30 countries and developed over 100 industrial parks globally.

Surbana Jurong’s motto ‘Building Cities, Shaping Lives’ reflects its belief that development is more than just steel and concrete. Surbana Jurong creates spaces and designs infrastructure where people live, work and play, shaping cities into homes with sustainable jobs where communities and businesses can flourish.

For media enquiries, please contact:

Jackie Yu
Director, Group Communications
Surbana Jurong Private Limited
T: +65 6839-7326   M: +65 9688-4269   E: [email protected]