OnThursday the company said it had established a SGD500m ($400m) multicurrency debt issuance programme.

Vallianzsaid Singapore's DBS would act as the sole arrangerand dealer of the programme.

It added that the bonds can be sold in any currency and tenors, and can bear fixed,floating or variable interest rates.

Proceeds from the fund raiser will go towards general corporate purposes, which will include refinancing and capitalexpenditure.

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