<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 4, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>PSA to sell 10-year US dollar bonds?
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(HONG KONG) PSA International Pte, the ports operator owned by Singapore's Temasek Holdings Pte, plans to sell 10-year fixed-rate bonds denominated in US dollars, according to a person familiar with the transaction.
DBS Group Holdings Ltd, JPMorgan Chase & Co and Nomura Holdings Inc are managing the benchmark note sale for Singapore-based PSA, said the person, who declined to be identified before a public announcement.
A benchmark sale is typically at least US$500 million.
PSA, which operates 28 ports in 16 countries across Europe, Asia and the United States, last issued bonds in dollars in 2006, when it sold US$500 million of 5.9 per cent bonds due 2016.
They were priced to yield 83 basis points more than similar-maturity US government notes, according to data compiled by Bloomberg, and last traded at 144 basis points more than Treasuries, according to Royal Bank of Scotland Group plc prices on Bloomberg.
A basis point is 0.01 percentage point.
A PSA corporate spokesman, who wouldn't be identified, declined to comment on the transaction.
Moody's Investors Service ranks PSA's debt at Aaa, its top investment-grade rating. Standard & Poor's grades it two levels lower at AA. -- Bloomberg
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>PSA to sell 10-year US dollar bonds?
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(HONG KONG) PSA International Pte, the ports operator owned by Singapore's Temasek Holdings Pte, plans to sell 10-year fixed-rate bonds denominated in US dollars, according to a person familiar with the transaction. DBS Group Holdings Ltd, JPMorgan Chase & Co and Nomura Holdings Inc are managing the benchmark note sale for Singapore-based PSA, said the person, who declined to be identified before a public announcement.
A benchmark sale is typically at least US$500 million.
PSA, which operates 28 ports in 16 countries across Europe, Asia and the United States, last issued bonds in dollars in 2006, when it sold US$500 million of 5.9 per cent bonds due 2016.
They were priced to yield 83 basis points more than similar-maturity US government notes, according to data compiled by Bloomberg, and last traded at 144 basis points more than Treasuries, according to Royal Bank of Scotland Group plc prices on Bloomberg.
A basis point is 0.01 percentage point.
A PSA corporate spokesman, who wouldn't be identified, declined to comment on the transaction.
Moody's Investors Service ranks PSA's debt at Aaa, its top investment-grade rating. Standard & Poor's grades it two levels lower at AA. -- Bloomberg
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