By Marisa Wong
Los Angeles, Jan. 29 – Singapore’s Suntec REIT MTN Pte. Ltd. priced S$200 million of seven-year notes at par to yield 2.95% 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 and the guarantor of the notes.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are lead managers and bookrunners.
The notes will be issued on Feb. 5 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 or investments, to finance any asset enhancement works, to refinance existing borrowings 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$200 million
|
| Maturity: | Feb. 5, 2027
|
| Bookrunners: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 2.95%
|
| Price: | Par
|
| Yield: | 2.95%
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 5
|
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