By Marisa Wong
Morgantown, W.Va., May 11 – Suntec REIT MTN Pte. Ltd. said it priced a further S$80 million of 3.4% notes due 2023 on Friday.
The notes will be consolidated and form a single series with the S$100 million of 3.4% five-year notes issued at par 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.
The latest notes were priced at par plus accrued interest from and including May 10 to but excluding May 18.
DBS Bank Ltd. is the bookrunner for the reopened notes. Oversea-Chinese Banking Corp. Ltd. was the lead manager for the original tranche.
Both tranches of series 5 notes are 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.
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| Guarantor: | HSBC Institutional Trust Services (Singapore) Ltd.
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| Issue: | Medium-term notes, series 5
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| Amount: | S$180 million (S$100 million for tranche 1, S$80 million for tranche 2)
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| Maturity: | May 10, 2023
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| Bookrunners: | Oversea-Chinese Banking Corp. Ltd. for tranche 1, DBS Bank Ltd. for tranche 2
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| Coupon: | 3.4%
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| Price: | Par for tranche 1; par plus accrued interest from May 10 to May 18 for tranche 2
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| Yield: | 3.4%
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| Pricing date: | May 3 for tranche 1, May 11 for tranche 2
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| Settlement date: | May 10 for tranche 1, May 18 for tranche 2
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