Oxley's MTN 17 times oversubscribed

Oxley's MTN 17 times oversubscribed
By
Ven Sreenivasan

OXLEY Holdings' bond issue has been oversubscribed some 17 times by investors rushing to load up on the debt of the fast-growing property company with a huge order book backlog - PHOTO: OXLEY HOLDINGS

OXLEY Holdings' bond issue has been oversubscribed some 17 times by investors rushing to load up on the debt of the fast-growing property company with a huge order book backlog.

BT has learnt from arranger UOB bank that the $100-million launch received book order to the value of some $1.7 billion. "We had to upsize the offer to $150 million to cater for the huge demand," said James Khoo, the bank's executive director for debt/capital markets.

The issue is part of a $300-million MTN programme the company announced on Tuesday.

Mr Khoo said that the yield for the four-year note was reduced to 5.1 per cent, from 5.25 per cent.





- wong chee tat :)