By Marisa Wong
Los Angeles, June 1 – Hotel Properties Ltd. issued S$125 million of 3¾% notes due 2028 on Monday, according to a company announcement.
DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. are the joint lead managers.
The series 004 notes will be issued under the company’s S$1 billion multicurrency debt program.
Proceeds will be used to refinance existing borrowings and to finance working capital requirements.
Hotel Properties is a Singapore-based hotel and real estate management firm.
| Issuer: | Hotel Properties Ltd.
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| Issue: | Notes, series 004
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| Amount: | S$125 million
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| Maturity: | May 31, 2028
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| Managers: | DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd.
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| Coupon: | 3¾%
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| Put option: | Upon change of control
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| Issue date: | May 31
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