OUE Commercial Reit sets up S$2b debt issuance programme
THE manager of OUE Commercial Real Estate Investment Trust (OUE C-Reit) on Saturday announced a new S$2 billion multicurrency debt issuance programme.
The two issuers for the programme are DBS Trustee in its capacity as OUE C-Reit's trustee, as well as OUE C-Reit's wholly-owned subsidiary OUE CT Treasury.
Under the programme, each issuer may issue unsubordinated, unsecured notes as well as unsecured perpetual securities.
The notes or perps issued by OUE CT Treasury will be unconditionally and irrevocably guaranteed by DBS Trustee.
Net proceeds from issuances under the programme will be used to refinance existing borrowings of OUE C-Reit and its subsidiaries, for the group's general corporate funding including investments and capital expenditures and/or to finance general working capital purposes of the group.
OCBC and Standard Chartered Bank (Singapore) are the appointed arrangers and dealers of the programme.
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
Units of OUE C-Reit gained 3.5 Singapore cents or 12.1 per cent to 32.5 cents at Friday's close.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions