Starhill Global Reit sets up S$2b debt programme

STARHILL Global Real Estate Investment Trust (Starhill Global Reit) has set up a S$2 billion multi-currency debt issuance programme, the manager announced late on Friday night.

The scheme covers the issuance of both notes guaranteed by the trustee, HSBC Institutional Trust Services (Singapore), which will be unsubordinated and unsecured debt obligations, and perpetual securities, which may either be subordinated or unsubordinated.

Starhill Global Reit, which has a S$3.1 billion portfolio of retail and office assets that is spread across Singapore, Australia, Malaysia, China and Japan, most recently reported a gearing level of 36.2 per cent and a weighted average debt maturity of roughly 3.2 years, as at Sept 30, 2019.

DBS Bank was appointed the arranger and dealer for the latest debt programme.