MEDIA group Singapore Press Holdings has set up a S$1 billion multi-currency medium term note programme, it announced in a statement to the Singapore Exchange on Monday morning.

Under the Programme, SPH will, from time to time, issue notes in Singapore dollars and other currencies, in various amounts and tenors, bearing fixed, floating or variable rates of interest. Hybrid Notes, Zero Coupon Notes, Dual Currency Notes or Index Linked Notes may also be issued under the Programme.

The company has appointed Oversea-Chinese Banking Corporation as arranger for the programme.

SPH also announced that OCBC has been mandated as dealer to offer S$300 million in fixed rate notes ((Series 1 Notes), due in 2015 with an upsize option.

The net proceeds arising from the issue of the notes under the programme, including the Series 1 Notes will be used for financing the general working capital, capital expenditure and corporate requirements (including acquisitions and investments), and refinancing the existing borrowings, of the company and its subsidiaries, or other purposes.

SPH has applied to the Singapore Exchange Securities Trading Limited for permission to deal in and quotation for any notes listed on the SGX-ST.

Approval in-principle has also been granted for the listing and quotation of the Series 1 Notes on the SGXST.

'Admission to the Official List of the SGX-ST and quotation of any Notes or the Series 1 Notes on the SGX-ST is not to be taken as an indication of the merits of the Company, its subsidiary companies, its associated companies, the Programme, such Notes or the Series 1Notes,' said SPH in the statement.