Intraco Issues Three Series of Digital Commercial Papers

MT Newswires

Sep 18

Intraco (SGX:I06) has issued three series of commercial paper in digital securities under its SDAX commercial paper facility program, according to a Thursday filing to the Singapore stock exchange.

The company issued SG$30.38 million of Singapore-dollar commercial paper to accredited investors for 34 days at an interest rate of 3.40% per annum.

It also raised $5.6 million U.S.-dollar commercial paper carrying a 34-day tenor and a 4.80% annual interest rate, along with SG$0.36 million from investors through a six-month Singapore-dollar commercial paper series for retail investors, with a 197-day tenor and a 2.78% annual interest rate.

The company said SG$9.85 million of the Singapore-dollar series was subscribed by associates of controlling shareholders, a company director, executive chairman and his spouse. A director and the executive chairman subscribed $0.5 million, or about 8.8%, of the U.S.-dollar series.

Taurus Point Capital advised Intraco on the issuances.

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