By Marisa Wong
Madison, Wis., May 14 – Soilbuild Business Space REIT said it priced S$100 million of 3.45% fixed-rate notes due 2018.
The notes will be issued through Soilbuild’s trustee, DBS Trustee Ltd., under its S$500 million multicurrency debt issuance program established on April 24.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the joint lead managers and bookrunners for the offering.
The deal has been a few times oversubscribed, according to a press release.
“This is Soilbuild REIT’s debut Singapore dollar notes issuance and it is pleasing to see such strong demand from investors,” Shane Hagan, chief executive officer of SB REIT Management Pte. Ltd., said in the release.
Proceeds will be used to refinance existing borrowings that are due August 2015.
Settlement is slated for May 21.
Soilbuild is a Singapore-based real estate investment trust that focuses on business parks and industrial properties.
| Issuer: | DBS Trustee Ltd. for Soilbuild Business Space REIT
|
| Issue: | Fixed-rate notes
|
| Amount: | S$100 million
|
| Maturity: | May 21, 2018
|
| Coupon: | 3.45%
|
| Bookrunners: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Announcement date: | May 14
|
| Settlement date: | May 21
|
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