SINGAPORE: SingPost Group Treasury Pte. Ltd., a wholly-owned subsidiary of Singapore Post Limited, has established a S$1.0 billion Multicurrency Debt Issuance Programme, which is unconditionally and irrevocably guaranteed by Singapore Post Limited.
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch has been appointed as arranger of the Programme.
Under the Programme, Singpost Group may, from time to time, issue Notes and perpetual securities in series or tranches denominated in Singapore dollars or any other currency.
Each series or tranche of Notes may be issued in various amounts and tenors, and may bear interest at fixed, floating, variable or hybrid rates or such other rates as may be agreed between such relevant dealer(s) and the Issuer or may not bear interest.
The Notes and the coupons relating to them will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank pari passu and rateably, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations of the Issuer.
Perpetual Securities have no fixed maturities, may be issued by the Issuer in various amounts, may bear fixed or floating rates of distribution, and if so provided in the applicable pricing supplement, may have distributions deferred at the option of the Issuer.
Senior Perpetual Securities and the coupons relating to them will constitute direct, unconditional, unsubordinated and unsecured obligations of the Issuer and shall at all times rank pari passu and rateably, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations of the Issuer.
The payment obligations of the Guarantor under the Senior Guarantee and the Trust Deed constitute direct, unconditional, unsubordinated and unsecured obligations of the Guarantor and shall at all times rank pari passu with all other present and future unsecured obligations of the Guarantor.
Subordinated Perpetual Securities and the coupons relating to them will constitute direct, unconditional, subordinated and unsecured obligations of the Issuer and shall at all times rank pari passu and rateably, without any preference or priority among themselves, and pari passu with any Parity Obligations of the Issuer.
The payment obligations of the Guarantor under the Subordinated Guarantee and the Trust Deed in relation to the Subordinated Perpetual Securities and the coupons relating thereto constitute direct, unconditional, subordinated and unsecured obligations of the Guarantor and shall at all times rank pari passu with any Parity Obligations of the Guarantor.
The rights and claims of the Perpetual Security holders in respect of the Subordinated Guarantee are subordinated as provided in the terms and conditions of the Perpetual Securities.
The net proceeds arising from the issue of Securities under the Programme will be used for financing general working capital, corporate requirements and funding needs of the Group or such other purposes as may be specified in the relevant pricing supplement.