Parkway Life sets up S$500 million MTN program

New York, Aug. 18 - Parkway Life Real Estate Investment Trust has started a S$500 million multi-currency medium-term note program.

Securities may be issued in Singapore dollars, U.S. dollars or any other currency, and can have fixed- or floating-rate coupons. The program also covers hybrid notes or zero-coupon notes.

Parkway will issue the notes through Parkway Life MTN Pte. Ltd. and Standard Chartered Bank is arranger.

Proceeds from selling the notes will be used to refinance existing debt, for investments and for general corporate purposes.

Fitch, Inc. has rated the program BBB+.

Parkway is a healthcare real estate investment trust based in Singapore.

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