SINGAPORE: Singapore  Technologies  Engineering  Ltd  (ST  Engineering) announced  that  its  subsidiary,  ST  Engineering  North  America,  has set  up a US$1.5 billion U.S. Commercial Paper Program, guaranteed by ST Engineering.

Under this U.S. Commercial Paper Program, ST Engineering may from time to time issue short-term unsecured promissory notes for a range of tenors up to 397 days.

ST Engineering will use the proceeds from the notes for general corporate purposes. The  notes will  be offered  and  sold  exclusively  to  eligible  investors  in  reliance  on  available exemptions under the United States Securities Act of 1933, as amended. The Notes will not be listed on any stock exchange or securities market.

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