OUE unit issuing S$150 million 3.25% green notes due in 2033

[SINGAPORE] OUE Treasury, a wholly owned subsidiary of OUE , has proposed to issue S$150 million in 3.25 per cent green notes due in 2033.

The notes will be issued pursuant to the S$3 billion multicurrency debt issuance programme set up on Nov 30, 2016. They will be unconditionally and irrevocably guaranteed by OUE, the group said in a bourse filing on Monday (May 11).

OCBC has been appointed as the sole global coordinator.

The bank, together with DBS and the Singapore branch of HSBC, has also been appointed as the joint lead manager, bookrunner and joint green-finance structuring bank.

Net proceeds arising from the issuance, after deducting issue expenses, will go towards financing or refinancing new or existing eligible green projects, in accordance with the company’s green finance framework.

The notes will be issued in registered form at an issue price of 100 per cent of their principal amount and in denominations of S$250,000.

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They will be payable semi-annually in arrears on May 18 and Nov 18 each year, starting from Nov 18 this year. The notes are expected to be issued on May 18, 2026, and unless previously redeemed, purchased or cancelled, will mature on May 18, 2033.

Application for the listing and quotation of the notes on the Singapore Exchange will be made.

OUE shares closed Tuesday 0.9 per cent or S$0.01 higher at S$1.11.