Suntec REIT trustee issues $200 mil perpetual securities under US$2 bil Euro Medium Term Securities Programme

Approval in-principle has been received from the SGX-ST.

HSBC Institutional Trust Services, as trustee of Suntec REIT, has issued $200 million fixed rate subordinated perpetual securities under the US$2 billion ($2.72 billion) Euro Medium Term Securities Programme on Oct 27.

Oversea-Chinese Banking Corporation (OCBC) was appointed as the sole lead manager for the perpetual securities.

Suntec REIT says the net proceeds will be used by the REIT and its subsidiaries for refinancing its existing borrowings, financing or refinancing its acquisitions or investments, as well as financing asset enhancement works.

The perpetual securities were offered in Singapore.

Approval in-principle has been received from the SGX-ST.

The securities are expected to be admitted in the official list from 9am on Oct 28.

Units in Suntec REIT closed 1 cent higher or 0.7% up at $1.45 on Oct 27.

See also: Suntec REIT reports 21.9% drop in 3Q DPU to 1.848 cents on lower distributable income

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