Rowsley sets up S$500m multicurrency medium term note programme

ISKANDAR real estate developer Rowsley Ltd, partly owned by Singapore billionaire Peter Lim, said it has set up a S$500 million multicurrency medium term note programme to fund its activities. DBS and Standard Chartered Bank are the joint arrangers and dealers.

"This marks the first time the debt-free company is planning to gear up since its transformation from an investment holding company into a multi-disciplinary real estate company with capabilities in planning, architecture, engineering, investment and development," Rowsley said in a statement.

Under the programme, Rowsley can issue notes denominated in Singapore dollars or any other currency, which can bear interest.

Rowsley CEO Lock Wai Han said the programme "affirms our bankers' confidence in our future".

Rowsley traded unchanged at S$0.195 at 10am on Tuesday.