Singapore Power lights up bond markets

Asia''s largest corporate bond deal of 2003 finds a willing audience.

Jackie Horne

October 16, 2003

An acquisition financing and re-capitalization for Singapore Power was completed via an S$3.8 billion ($2.2 billion) four tranche bond issue last night (Thursday). The huge rarity value of the transaction by wholly-owned subsidiary SP PowerAssets (SPPA) meant the Aa1/AA+ rated credit did not have to cede an inch on price in to achieve its desired size.

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