By Marisa Wong
Morgantown, W.Va., Sept. 20 – Soilbuild Business Space REIT said it priced S$65 million of 6% subordinated perpetual securities.
The securities will be issued through Soilbuild’s trustee, DBS Trustee Ltd., under its S$500 million multicurrency debt issuance program established on April 24, 2015.
HSBC, Singapore Branch is the dealer and bookrunner for the securities.
The distribution rate is 6% initially and will reset on Sept. 27, 2021 and every three years after that. The reset rate will equal the three-year Singapore dollar swap offer rate plus an initial spread of 379 basis points.
Proceeds will be used to finance general corporate purposes.
Settlement is slated for Sept. 27.
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: | Subordinated perpetual securities
|
| Amount: | S$65 million
|
| Maturity: | Perpetual
|
| Bookrunner: | HSBC, Singapore Branch
|
| Distribution rate: | 6% initially, resets on Sept. 27, 2021 and every three years after that to three-year Singapore dollar swap offer rate plus an initial spread of 379 bps
|
| Announcement date: | Sept. 20
|
| Settlement date: | Sept. 27
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
