Singapore’s Oxley Holdings has revealed through an exchange filing that it has entered an agreement to sell its overseas property with a book value of ~S$60mn ($44.6mn) at a price of ~S$100mn ($74.4mn). The sale of the property if completed by the end of June next year will contribute positively to EPS of the company for the financial year ending June 2022. According to the company, the purchaser has paid 10% of the sale price. The balance will be paid on completion of the transaction subject to obtaining regulatory approval for a greater development of the site within 12 months from the date of contract. The proceeds will add to the cash flow of the group. Meanwhile the property developer is also marketing a S$ 3Y bond issued through its wholly-owned subsidiary Oxley MTN at a final guidance of 6.9% off a S$1bn ($740mn) EMTN program.
Oxley’s 5.7% 2022s and 6.5% 2023s were largely flat to trade at 99.21 and 99.72 cents on the dollar on the secondary markets.
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