SPC Establishes Multicurrency Debt Issuance Program

Singapore Petroleum Company has established a US$1,000,000,000 Multicurrency Debt Issuance Program and appointed Citicorp Investment Bank (Singapore) Limited and DBS Bank Ltd. to act as the arrangers and the dealers of the Program.

Under the Program, SPC may from time to time issue notes (Notes) in series or tranches in US dollars, Singapore dollars and/or any other currencies as may be agreed with the dealers of the Program. Each series or tranche of Notes may be issued in various amounts and tenors, and may bear fixed, floating, zero, variable or hybrid rates of interest. The Notes will constitute direct, unconditional, unsubordinated and unsecured obligations of SPC and shall at all times rank pari passu, without any preference or priority among themselves, and pari passu with all other present and future unsecured obligations (other than subordinated obligations and priorities created by law) of SPC.

The Program will be used for the general corporate funding requirements of SPC and its subsidiaries, including refinancing of existing borrowings, working capital and other general funding requirements.

Application has been made to the Singapore Exchange Securities Trading Limited (SGX-ST) for permission to deal in and quotation for any Notes, which are agreed at the time of issue thereof to be so listed on the SGX-ST. Such permission will be granted when such Notes have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of the SGX-ST and quotation of any Notes on the SGX-ST are not to be taken as an indication of the merits of SPC, its subsidiaries, its associated companies or the Notes.


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