18 Aug 2014

Sembcorp Marine and its subsidiaries update their multicurrency, multi-issuer debt issuance programme to include perpetual securities

Singapore, August 18, 2014: Sembcorp Marine Ltd (the “Company”), together with its subsidiaries Jurong Shipyard Pte Ltd (“JSPL”), Sembawang Shipyard Pte Ltd (“SSPL”) and SMOE Pte Ltd (“SMOE”) (JSPL, SSPL and SMOE, the “Issuing Subsidiaries” and together with the Company, the “Issuers”), wish to announce that they have updated their existing S$2,000,000,000 multicurrency, multi-issuer debt issuance programme (the “Programme”) to allow for the issuance of perpetual securities in addition to notes.

Under the updated Programme, each of the Issuers may from time to time issue notes (the “Notes”) and/or perpetual securities (the “Perpetual Securities”, and together with the Notes, the “Securities”) denominated in Singapore dollars and/or any other currency as the relevant Issuer and the relevant dealer may agree. The obligations in respect of Securities issued by the Issuing Subsidiaries will be unconditionally and irrevocably guaranteed by the Company. DBS Bank Ltd and Standard Chartered Bank will continue to be joint arrangers and dealers of the Programme, while DBS Bank Ltd will replace Standard Chartered Bank as issuing and paying agent and agent bank under the Programme.

This update of the Programme follows the previous amendment to the Programme on 6 January 2010, when the Programme limit was increased to S$2,000,000,000 from S$500,000,000 and SMOE was added to the Programme as an Issuer.

The Securities will be issued pursuant to exemptions invoked under Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore.
The net proceeds arising from the issuance of Securities under the Programme (after deducting issue expenses) will be used for the purposes of funding new capital expenditures, acquisitions, general corporate and working capital requirements and/or refinancing existing borrowings of each of the Issuers and their respective subsidiaries or such other purposes as may be specified in the relevant pricing supplement.

For media and analysts enquiries, please contact:

Ms Lisa Lee
Senior Vice President
Investor Relations & Communications
Tel No : 65-62627107
Fax No : 65-62610738
Email : lisa.lee@sembmarine.com

For the complete PDF version of this release, please click here.