Wednesday, June 1, 2011

Hyflux: $800 million bridge loan.

It was not so long ago that Hyflux offered $200 million of perpetual preference shares. At that time, I wondered why Hyflux had to pay a 6% annual dividend yield on those shares.


6% seemed a tad expensive to me in an environment where interest rates are very low. I concluded that Hyflux could be having some difficulty getting long term financing from financial institutions at even an interest