Corporate digest

Hotel Properties Limited

THE hotelier has closed the order book for S$170 million of five-year notes, recording S$200 million from over 30 accounts, joint lead manager and book runner DBS said on Friday.

The senior unsecured notes will carry a 3.8 per cent coupon rate, which is 328.5 basis points above the five-year swap offer rate. They are expected to be issued on June 2, 2020 and will mature on June 2, 2025. The notes will be issued at an issue price of 100 per cent their principal amount and pay coupons on a semi-annual basis, payable in arrear on June 2 and Dec 2 of each year.