Lendlease Global Commercial Reit prices S$120 million perpetual securities at 4.28%
Net proceeds from the issue will be used to refinance existing borrowings
Add BT as a preferred source
[SINGAPORE] has priced its S$120 million perpetual securities offering at 4.28 per cent.
This falls under the S$1 billion multi-currency debt issuance programme, the manager said in a bourse filing on Tuesday (Apr 14).
The perpetual securities will be issued in denominations of S$250,000 and will have no fixed final redemption date. They are expected to be issued on Apr 23.
Net proceeds from the issue of the perpetual securities, after deducting issue expenses, will be used to refinance existing borrowings – including the S$200 million fixed rate subordinated perpetual securities.
DBS, OCBC and UOB have been appointed as the joint lead managers and bookrunners for the perpetual securities offering. DBS and OCBC are also the joint global coordinators.
The filing said the perpetual securities are expected to be listed on the Singapore Exchange on or around Apr 24.
Units of the real estate investment trust ended at S$0.575, up 0.9 per cent or S$0.005, before the announcement.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
