Singapore Airlines readies 10-year dollar bond issuance, term sheet shows

Singapore Airlines is preparing to issue a 10-year dollar bond that could raise at least $300m, according to three sources with direct knowledge of the matter. Initial price guidance for the deal has been set at the 10-year US Treasury rate plus 150 basis points, a term sheet seen by Reuters showed. The size of the deal could reach $500m, one of the sources added. The sources could not be identified discussing confidential information. "At this juncture, a 10-year US dollar bond issuance looks attractive," a Singapore Airlines spokeperson said, adding the company regularly reviewed its funding requirements versus its existing cash position. Orders worth more than $1b have been lodged on Thursday by potential investors, a book message sent by the deal's bankers showed.<br/>