Slaughter and May advised ST Engineering on the establishment of, and the first issuance under, its S$5 billion Multicurrency Medium Term Note Programme
Slaughter and May, Hong Kong, advised Singapore Technologies Engineering Ltd (the Guarantor), ST Engineering Treasury Pte. Ltd. (the Singapore Issuer) and ST Engineering RHQ Ltd. (the UK Issuer) on the English and U.S. law aspects of the establishment of its S$5 billion Multicurrency Medium Term Note Programme (the Programme), which is guaranteed by the Guarantor, and on the first issuance under the Programme of US$750,000,000 1.50 per cent guaranteed notes due 2025 (the 2025 Notes). Pursuant to the Programme, each of the Singapore Issuer, the UK Issuer and additional issuers to be nominated by the Guarantor may issue notes from time to time.
The Programme has been rated “AAA” by S&P. Notes issued under the Programme may be listed on the Singapore Exchange Securities Trading Limited (SGX-ST).
The 2025 Notes are guaranteed by the Guarantor and listed on SGX-ST.
DBS and J.P. Morgan acted as the arrangers of the Programme. DBS, J.P. Morgan, Citigroup, Crédit Agricole, Mizuho Securities, OCBC, Standard Chartered and UOB acted as the arrangers and dealers for the Programme.
DBS and J.P. Morgan acted as Joint Global Coordinators for the issuance of the 2025 Notes. DBS, J.P. Morgan, Crédit Agricole, Mizuho Securities and Standard Chartered acted as the Joint Lead Managers for the issuance of the 2025 Notes.