THE Straits Trading Company on Monday (Jan 6) launched the second series of its three-month commercial paper in digital securities on Singapore’s Digital Assets Exchange (SDAX).
It will be offered for subscription only to accredited investors and institutional ones at an interest rate of 3.7 per cent per annum, and will mature about three months from the date of issuance.
The investment company expects to raise between S$5 million and S$10 million from investors, which shall be determined by the board after taking into account demand from investors.
On Oct 15, 2024, the company launched a S$55 million multicurrency debt issuance programme, to issue digital securities.
The first issuance under this programme was launched on the same day and closed on Oct 24, 2024, with strong demand from investors.
An aggregate amount of S$9.1 million was successfully raised for the company’s first issuance of its three-month commercial paper, exceeding its target of a minimum of S$5 million.
Further announcements will be made as and when there are material developments to the debt issuance programme and the second series of its three-month commercial paper, said the company.
Shares of Straits Trading closed flat at S$1.44 on Monday, before the announcement.
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