By Marisa Wong
Madison, Wis., Jan. 27 - Suntec REIT MTN Pte. Ltd. priced S$200 million of six-year notes at par to yield 3.35%, according to an announcement by ARA Trust Management (Suntec) Ltd., manager of Suntec Real Estate Investment Trust.
The issuer is a subsidiary of HSBC Institutional Trust Services (Singapore) Ltd., which is the trustee of Suntec REIT.
The notes (expected: Baa2) will be issued under Suntec REIT MTN's $1.5 billion euro medium-term note program established on Aug. 15.
Australian and New Zealand Banking Group Ltd., DBS Bank Ltd. and Standard Chartered Bank are the joint lead managers and joint bookrunners for the issue.
The notes will be issued on Feb. 10.
Proceeds will be used to refinance existing borrowings and for general corporate purposes.
Singapore-based Suntec owns retail and commercial real estate.
| Issuer: | Suntec REIT MTN Pte. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$200 million
|
| Maturity: | Feb. 10, 2020
|
| Coupon: | 3.35%
|
| Price: | Par
|
| Yield: | 3.35%
|
| Bookrunners: | Australian and New Zealand Banking Group Ltd., DBS Bank Ltd. and Standard Chartered Bank
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 10
|
| Rating: | Moody's: Baa2 (expected)
|
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