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Hotel Properties prices 5-year notes at 5.1%

Claudia Chong

Claudia Chong

Published Tue, Apr 23, 2024 · 11:21 PM
    • The notes were issued under the group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017.
    • The notes were issued under the group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017. PHOTO: BT FILE

    HOTEL Properties (HPL) has priced S$190 million in fixed-rate senior unsecured notes due May 3, 2029, at 5.1 per cent. Coupon payments will be made semi-annually in arrears on May 3 and Nov 3 each year.

    The notes were issued under the hotel operator and property group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017.

    Net proceeds from the issuance will be used to finance working capital requirements and refinance existing borrowings, including redeeming the S$160 million 4.4 per cent perpetual securities the group issued.

    DBS, OCBC and UOB were the joint bookrunners for the issue.

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    Hotel Properties LtdBonds

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