OUE Reit prices S$180 million in green notes due 2031 at 3.9%
Net proceeds will be used to fund or refinance eligible green projects
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OUE Real Estate Investment Trust (OUE Reit) has priced S$180 million in fixed-rate green notes due 2031 at 3.9 per cent, the manager said on Thursday (Sep 19).
The notes fall under the S$2 billion multicurrency debt issuance programme of the trustee and the issuer, wholly owned subsidiary OUE Reit Treasury.
OUE Reit expects to issue the notes on Sep 26, and they will mature on Sep 26, 2031. The Reit and the notes are rated “BBB-” by S&P Global Ratings.
Net proceeds from the issuance will be used to finance or refinance new or existing eligible green projects that meet one or more of the eligible categories recognised in the green bond and loan principles, in accordance with the green financing framework established by the Reit in November 2023.
OCBC is the sole global coordinator for the notes. DBS and OCBC are the joint lead managers and bookrunners. OCBC is also the green finance adviser to the issuer.
Units of OUE Reit closed S$0.005 or 1.5 per cent lower at S$0.32 on Thursday, before the announcement.
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