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OUE to sell 5-year bonds
OUE Ltd is selling five-year bonds with initial guidance in the 4 per cent area.
The unconditional, unsubordinated and unsecured notes, is off the issuer's S$3 billion multicurrency debt programme, according to a termsheet seen by The Business Times on Wednesday.
OUE and the bonds are unrated.
This is the first issuance from OUE since 2012 and is on the back of strong investor interest from a successful roadshow conducted last week, said a broker.
The issue size is expected to be similar to previous OUE transactions.
In 2012 OUE sold S$200 million 7-year bonds at 4.25 per cent.
OCBC Bank and Standard Chartered Bank are joint bookrunners.
Mainboard-listed OUE, an integrated property developer with commercial, retail and residential projects recorded a net profit of S$1.09 billion for 2014, rebounding from a S$36.6 million loss a year ago.