PIL tests money markets
Pacific International Lines (PIL) is reportedly testing the waters for a potential SGD1bn ($800m) fund raising exercise, it has emerged.
The Singapore-based liner company is said to have picked three banks to advise on the potential Singapore dollar bond offering.
Credit Suisse, Standard Chartered Bank and domestic bank DBS have reportedly been mandated to arrange the investor road show.
Reports say the investor meetings are due to kick off in Singapore on Wednesday.
After which a deal may launch, pending market conditions, off a SGD1bn multi-currency medium-term note (MTN) programme.
PIL, with an owned fleet of over 140 containerships and numerous others chartered in, is one of the world’s largest privately owned liner companies.
It specialises in the intra-Asian trades, as well as longer routes from Asia to Africa, South America and Oceania.