Singapore's K-REIT may issue up to S$1 billion of notes

By Susanna Moon

Chicago, Jan. 20 - K-REIT Asia Management Ltd. said K-REIT Asia MTN Pte. Ltd., a wholly owned subsidiary of RBC Dexia Trust Services Singapore Ltd., has established a S$1 billion multi-currency medium-term note program.

Citicorp Investment Bank (Singapore) Ltd. is arranger and dealer.

The issuer was incorporated on Nov. 24 for the sole purpose of acting as issuer under the medium-term note program.

The notes may be issued in various amounts and tenors and may bear fixed, floating or variable rates of interest. Hybrid notes or zero-coupon notes also may be issued under the program.

Proceeds will be used for financing or refinancing acquisitions or investments and asset enhancement works.

The company said it has applied to list the notes on the Singapore Exchange Securities Trading Ltd.

K-REIT is a Singapore-based real estate investment trust.

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