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latest bond released by OUE 3 years tenure at 3.4% annual yield, this seems to be good, worth to invest
Issuer: Overseas Union Enterprise Limited
Security: Mandarin Orchard Singapore ("HOTEL") and Mandarin Gallery ("GALLERY")
Bond Issue Size: Up to S$[300,000,000] Secured Fixed rate notes
Purpose: For the Issuer's general working capitals and general corporate funding purposes
Issue Date: [ October] 2010
Maturity Date: [ September] 2013
Indicative Cpn: [3] yrs SGD IRS + [230]bps area (Approx 3.40%)
Issue Price: 100
Early Redemption: The notes may be redeemable by the Issuer as a result of the sale of the Property on any Interest Payment Date ("IPD") falling on or after the 2nd IPD from the Issue Date. Subject to the following redemption price: on 2nd IPD : [103]%
on 3rd IPD : [102]%
on 4th IPD : [102]%
on 5th IPD : [101]%
Redemption: 100
Denomination: SGD250k