24 Feb 2023

Underwritten renounceable rights issue of SATS Ltd. to raise gross proceeds of approximately S$798.8 million

Partner Raymond Tong is acting for DBS Bank Ltd. (“DBS”) as the lead financial adviser, Merrill Lynch (Singapore) Pte. Ltd. (“BofA”) and Citigroup Global Markets Singapore Pte. Ltd. (“Citi”) as the joint financial advisers (and DBS, BofA and Citi being the joint underwriters), and Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited as the co-lead managers, in the underwritten renounceable rights issue of SATS Ltd. to raise gross proceeds of approximately S$798.8 million, to partially finance the acquisition by SATS Ltd. of Worldwide Flight Services.