OUE sells five-year S$300m bonds at 3.8%

Singapore

OUE Ltd has sold five-year S$300 million bonds at 3.8 per cent amid strong demand. The issue, OUE's first since 2012, is also the year's largest non-bank, non-perpetual deal, said Adeline Woo, Standard Chartered Bank director, debt capital markets, Asean, on Wednesday.

The deal saw strong demand which allowed the coupon to be tightened 20 basis points from initial guidance of 4 per cent, said Ms Woo. "The order book was S$1.5 billion, five times subscribed," she said.