<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>$250m sale: NUS first varsity to issue bonds in Asia
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->THE National University of Singapore (NUS) yesterday became the first university to issue bonds in Asia with a bond sale aimed at raising $250 million.
In a joint statement, NUS and bank HSBC said the notes were well-received by investors with the order book filled within an hour of the issue launch.
The move comes as NUS aims to diversify its funding sources.
The proceeds, after expenses, will be used for capital spending and general working capital.
The notes will mature in June 2014.
The bonds are being issued under the $1 billion Multicurrency Medium Term Note Programme established by NUS in 2005.
Foreign universities in the United States, Europe and Australia have also issued bonds to investors.
It is understood that the investors in the notes include asset managers and insurance companies.
HSBC was the sole lead manager and bookrunner of the notes.
The notes are expected to receive an AAA rating by Moody's Investors Service, making NUS the only university to receive such a rating in Asia to date. KATE LIM
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->THE National University of Singapore (NUS) yesterday became the first university to issue bonds in Asia with a bond sale aimed at raising $250 million.
In a joint statement, NUS and bank HSBC said the notes were well-received by investors with the order book filled within an hour of the issue launch.
The move comes as NUS aims to diversify its funding sources.
The proceeds, after expenses, will be used for capital spending and general working capital.
The notes will mature in June 2014.
The bonds are being issued under the $1 billion Multicurrency Medium Term Note Programme established by NUS in 2005.
Foreign universities in the United States, Europe and Australia have also issued bonds to investors.
It is understood that the investors in the notes include asset managers and insurance companies.
HSBC was the sole lead manager and bookrunner of the notes.
The notes are expected to receive an AAA rating by Moody's Investors Service, making NUS the only university to receive such a rating in Asia to date. KATE LIM
