By Marisa Wong
Morgantown, W.Va., July 9 – Suntec REIT MTN Pte. Ltd. priced S$150 million of three-year notes at par to yield 3% on Monday, 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.
DBS Bank Ltd. and United Overseas Bank Ltd. are the joint lead managers and bookrunners.
The notes will be issued on July 16 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, for working capital requirements and for 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$150 million
|
| Maturity: | July 16, 2021
|
| Bookrunners: | DBS Bank Ltd. and United Overseas Bank Ltd.
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Pricing date: | July 9
|
| Settlement date: | July 16
|
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