Singapore terminal operator PSA International is issuing $500m worth of bonds.

The issue comes under a $3.5bn bond programme established by PSA in 2009.

The 2.5% guaranteed notes are expected to be issued on 12 April and will mature on 12 April 2026.

PSA said net proceeds from the issue would be used for capital and operating expenditures and general working capital. The bonds will be listed on the Singapore Exchange.

DBS Bank Ltd. and Deutsche Bank AG, Singapore Branch have been appointed as joint lead managers and bookrunners.