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CORRECTED-Singapore's Mapletree to sell S$75 mln 2-yr bonds

Sun Mar 2, 2008 10:00pm EST
 
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(Corrects to change company ownership in paragraph 1)

SINGAPORE, Feb 29 (Reuters) - Singapore's Mapletree Treasury Services Ltd, a unit of Mapletree Investments, will sell S$75 million ($54 million) worth of two-year bonds with a coupon of 2.6 percent, a source familiar with the deal said.

The coupon for the fixed-rate bond will be paid on March 3, the source said, adding the deal size was increased by S$45 million after demand was strong.

The swap offered rate for the two-year bond was last quoted at 1.67 percent on Friday, according to Reuters data.

Singapore's property firms are increasingly tapping the debt market after volatile markets soured sentiment for share offerings. DBS Bank (DBSM.SI: Quote, Profile, Research, Stock Buzz) is the sole lead manager for the deal. (Reporting by Koh Gui Qing; Editing by Saeed Azhar)

 

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