Parkway Life Reit trustee prices 5 billion yen bonds
A PROPOSED issue of five billion yen in senior unsecured notes due 2023 for Parkway Life Reit has been priced.
The notes will be issued at 100 per cent of the principal amount and in denominations of 100 million yen (S$1.2 million). They will bear a fixed interest rate of 0.57 per cent, payable every half a year in arrear.
Proceeds from the notes will be lent by Parkway Life MTN Pte Ltd to Parkway Life Reit trustee HSBC Institutional Trust Services (Singapore) Limited, which will use the loan to refinance existing borrowings, investments and general working capital of the real estate investment trust (Reit).
The notes are issued under the S$500 million multi-currency debt issuance programme established by Parkway Life MTN Ltd on Aug 18, 2008. They are expected to be issued on Dec 6 this year, and to mature on June 6, 2023.
Barclays Bank plc and DBS Bank have been appointed as the joint lead managers and joint bookrunners for the issuance of these latest notes.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Wall St opens sharply higher on soft jobs data
HSBC has no plans to dispose of further businesses, chairman says
Glencore Group nears deal for Shell’s Singapore oil refinery
Chinese share of French EV market slumps after incentives curbed
ARA H-Trust Q1 net property income up marginally to US$6.4 million
JPMorgan unveils IndexGPT in next Wall Street bid to tap AI boom