Singapore's Chartered Semiconductor secured an unexpectedly strong showing for its debut international bond on Friday July 29. Under the lead of Citigroup and Goldman Sachs, the Baa3BBB- rated group decided to increase its SEC registered deal from $450 million to $625 million on the back of a $4.5 billion order book.
A five-year tranche was sized at $375 million and priced at 190bp over Treasuries to yield 6.009% based on a re-offer price of 98.896% and coupon of 5.75%. This equates to a Libor spread of 146bp.
A 10-year tranche was sized at $250 million and priced at 230bp over Treasuries to yield 6.572%...
