ST Engineering US$1bn notes (3.375% 2027 and 3.75% 2032)
Long-term funding after the US$2.7bn acquisition of TransCore
Key terms
- Borrower or issuer
- ST Engineering
- Date
- 5 May 2022
- Type
- Bond
- Amount
- US$1bn
- Pricing
- 3.375% (US$700m, 2027) and 3.75% (US$300m, 2032)
- Maturity
- 2027 and 2032
- Rating at issue
- AAA (index)
Recorded terms
- Structure
- Two tranches issued by ST Engineering Urban Solutions USA Inc. (renamed STE TransCore Holdings, Inc. in June 2022)
- Country
- Singapore
Rating at issue
Rated AAA at issue on the index basis (middle of three agencies, lower of two), from the issuer's own release.
The Notes to be issued are expected to be rated “Aaa” by Moody’s
Ratings change over time; check the agencies for the current rating.
Parties
- ST Engineering borrower or issuer
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 22 Apr 2022 | Lockheed Martin US$2,300m senior notes (3 tranches) | Bond | US$2.3bn |
| 6 Jun 2022 | Parker Hannifin US$3.6bn senior notes for Meggitt | Bond | US$3.6bn |
| 20 Oct 2022 | Lockheed Martin US$4,000m senior notes (5 tranches) | Bond | US$4bn |
| 27 Oct 2022 | Curtiss-Wright US$300m senior notes private placement (2032 and 2034) | Bond | US$300m |
| 3 Nov 2021 | RTX (Raytheon Technologies) US$2,100m senior notes (2 tranches) | Bond | US$2.1bn |
More from ST Engineering
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Apr 2025 | ST Engineering US$750m 4.250% notes due 2030 | Bond | US$750m |
| 16 May 2023 | ST Engineering US$500m 4.125% notes due 2026 | Bond | US$500m |
| 22 Apr 2020 | ST Engineering US$750m 1.50% notes due 2025 | Bond | US$750m |
Sources
- ST Engineering: change of name of issuer in S$5bn Global Medium Term Note Programme stengg.com · 7 Jun 2022
About this record
Record DEF-2022-0028, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Senior notes are unsecured promises to pay, priced off government bonds; the prospectus sets the covenants, the change-of-control put and the redemption terms.
