Seazen subsidiary issues $160m guaranteed senior notes

Seazen Group Limited announced a proposed issuance of USD denominated guaranteed senior notes by its wholly-owned subsidiary, New Metro Global Limited. The notes are guaranteed by Seazen Group and Seazen Holdings. The pricing of the notes, including the aggregate principal amount, offer price, and interest rate, was determined through a book-building exercise. The net proceeds are intended for repaying existing indebtedness and for general corporate purposes.

The board confirmed that on 23 September 2025, the issuer, the company, and Seazen Holdings entered into a purchase agreement for the issue and sale of 11.88% guaranteed senior notes due 2027, totaling $160,000,000. The gross proceeds will be approximately $157 million. The notes will bear interest at 11.88% per annum, payable semi-annually, commencing on 30 March 2026. The notes are expected to be rated B- by Standard & Poor's Rating Services and completion of the issue is anticipated on 30 September 2025.

Approval-in-principle for listing and quotation of the notes has been received from the SGX-ST. Investors and shareholders are advised to exercise caution as the completion of the purchase agreement is subject to conditions and may be terminated. The notes have not been registered under the U.S. Securities Act and will only be offered outside the United States.