Singapore Airlines on Thursday said on a statement that it has raised $600 million in a U.S. dollar bond to help fund aircraft purchase and repay exisiting debts.
The move comes as global airlines trembles with substantial cut back in demand for air travel.
The seven-year notes, its second U.S. dollar bond offering, have a coupon of 3.375%. A year ago, it raised $500 million in a five-year issue with a 3% coupon.
The airline was aiming to raise between $500 million and $750 million, according to two sources ofReuters.
According to the company’s latest financial presentations, before this offering, the airline had raised S$21.6 billion ($16 billion) of liquidity during the pandemic and had untapped debt facilities of S$2.1 billion as of Sept. 30.
