Starhill Global Reit's manager prices S$125 million 2.23% notes due 2028

STARHILL Global Reit's manager has priced S$125 million notes with a fixed interest rate of 2.23 per cent per annum due 2028, to be issued under its S$2 billion multi-currency debt issuance programme.

The interest for the Series 003 notes will be payable semi-annually in arrear, and have a tenor of seven years. The notes may be redeemed at the option of the issuer in whole or in part on any interest payment date prior to the maturity date on Sept 13, 2028 at the make-whole amount together with interest accrued.

CIMB Bank Berhad, Singapore Branch and DBS Bank have been appointed as joint lead managers and bookrunners of the Series 003 Notes and will offer the notes primarily in Singapore.

The net proceeds from the notes will be used to refinance existing borrowings of Starhill Global Reit, meet capital expenditure requirements, or for working capital purposes. The above transaction is not expected to have any material impact on the gearing of Starhill Global Reit.