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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