SIA doubles limit of medium-term note programme to $10b

Singapore Airlineshas upsized its multicurrency medium-term note programme limit to $10b, up from $5b previously, the flag carrier said in a bourse filing on Tuesday. Net proceeds from the issuance of notes under this programme will be used for general corporate or working capital purposes, or other such purpose(s) as may be specified in the relevant pricing supplement, SIA noted. DBS and Citigroup Global Markets Singapore are the arrangers of the programme. SIA's latest announcement comes shortly after the airline last week said its new $850m five-year convertible bonds have been upsized amid strong investor interest, and will carry a 1.625 per cent coupon. The offering was four times oversubscribed by institutional and other investors, which enabled the carrier to upsize the deal from an initial $750m and with more attractive terms for SIA, the airline said Friday. HSBC was the sole bookrunner and lead manager of the sale.<br/>