May 07, 2026
Leading industrialised agri-food company Japfa Pte Ltd (together with its subsidiaries, the “Group”) has successfully issued a US$300 million 5-year Senior Secured Bond (the “Bond”) at a coupon of 7.95%.
The transaction marks several historic firsts in the ASEAN capital markets:
- First debut high yield bond from Singapore since 2018;
- First debut high yield bond deal across ASEAN since July 2024;
- First debut corporate high yield Holding Company deal out of ASEAN in the last decade;
- Rare public markets bond deal executed by an unlisted company, featuring a unique structure designed to balance investors protection with the Group’s strategic objectives.
The offering was extremely well-received by investors with an orderbook of over US$1.35 billion representing a 4.5x oversubscription
Kevin Monteiro, Chief Financial Officer of Japfa Pte Ltd, said: “The response we received throughout the roadshow across Singapore, Hong Kong and London was extraordinary. We engaged with more than 120 investors, allowing us to close with an extremely high-quality investor base, with leading funds out of Asia (42%), EMEA (33%) and USA (25%) subscribing to the Bond. This is a significant validation of our financial strategy”.
Gabriella Santosa, Chief Operating Officer Corporate Shared Services of Japfa Pte Ltd, commented: “This transaction demonstrates the confidence that global investors have in Japfa’s story and long-term strategy. Achieving this as an unlisted company is a testament to the strength of the Japfa Group and our commitment to sustainable growth”.
The Bond was offered to qualified institutional buyers pursuant to Rule 144A and Regulation S.
Deutsche Bank acted as the Sole Global Coordinator and Sole Bookrunner.
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