Suntec Reit prices new S$200m 7-year notes at 2.95%
Add BT as a preferred source
Fiona Lam
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SUNTEC Real Estate Investment Trust (Suntec Reit) has launched S$200 million worth of new notes, to be issued under the US$1.5 billion euro medium-term note programme.
The notes are due in 2027 and will carry a coupon fixed at 2.95 per cent per annum, Suntec Reit said on Wednesday night.
Net proceeds from the issue will be used by Suntec Reit and its subsidiaries to finance or refinance acquisitions and/or investments. They will also go into funding any asset enhancement works, refinancing existing borrowings and for general corporate purposes.
The notes are expected to be issued at par on Feb 5, in denominations of S$250,000. They will be listed on the Singapore Exchange.
They are unconditionally and irrevocably guaranteed by Suntec Reit's trustee, HSBC Institutional Trust Services (Singapore).
DBS Bank and OCBC are the joint lead managers and bookrunners for the deal.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Units of Suntec Reit gained S$0.01 or 0.5 per cent to close at S$1.85 on Wednesday, before the announcement.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
