By Marisa Wong
Morgantown, W.Va., May 3 – Suntec REIT MTN Pte. Ltd. priced S$100 million of five-year notes at par to yield 3.4% on Thursday, 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 and the guarantor of the notes.
Oversea-Chinese Banking Corp. Ltd. is the lead manager.
The notes will be issued on May 10 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 for working capital requirements and general corporate purposes.
Singapore-based Suntec owns retail and commercial real estate.
| Issuer: | Suntec REIT MTN Pte. Ltd.
|
| Guarantor: | HSBC Institutional Trust Services (Singapore) Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$100 million
|
| Maturity: | May 10, 2023
|
| Manager: | Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 3.4%
|
| Price: | Par
|
| Yield: | 3.4%
|
| Pricing date: | May 3
|
| Settlement date: | May 10
|
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