By Marisa Wong
Morgantown, W.Va., July 26 – Suntec REIT MTN Pte. Ltd. priced S$100 million of five-year notes at par to yield 2.85% on Wednesday, 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.
DBS Bank Ltd. and Standard Chartered Bank are the joint bookrunners. DBS Bank is also global coordinator for the notes.
The notes will be issued on Aug. 2 under Suntec REIT MTN’s $1.5 billion euro medium-term note program established on Aug. 15, 2013.
Proceeds will be used to finance acquisitions, to refinance existing borrowings and as for working capital requirements and general corporate purposes.
Singapore-based Suntec owns retail and commercial real estate.
| Issuer: | Suntec REIT MTN Pte. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$100 million
|
| Maturity: | Aug. 2, 2023
|
| Bookrunners: | DBS Bank Ltd. and Standard Chartered Bank
|
| Coupon: | 2.85%
|
| Price: | Par
|
| Yield: | 2.85%
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 2
|
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