Shangri-La Asia issues 7-year dim sum bond at 2.70% coupon

The bond was issued through a private placement.

Shangri-La Asia Limited has issued its first offshore renminbi dim sum bond worth $1.2B (CNH1.02b), with DBS Bank Ltd. and United Overseas Bank Limited as the joint dealers.

The bond was issued through a private placement and carries a coupon rate of 2.70% per annum.

The group said the issuance expands its access to renminbi funding across onshore and offshore markets, building on its previous Panda Bond issuances.

It also diversifies the group's funding sources and enhances financial flexibility.

The group will use the net proceeds for general corporate purposes, including refinancing existing indebtedness.

The bond was priced on 29 October and settled on 9 November.