“Proceeds from the proposed transaction will be used for general corporate funding purposes and investments, which may include investments in the logistics business of the company,” Singapore-listed NOL said in a statement on Wednesday.
NOL has appointed DBS Bank as global coordinator and DBS Bank, HSBC, OCBC and Standard Chartered Bank as joint lead managers for the offering.
Earlier this month NOL had postponed plans for a perpetual bond issue due to market conditions.
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