OUE CREIT launches $2b multicurrency debt issuance programme

Proceeds may be used partly for refinancing the trust’s borrowings.

A trustee and a wholly-owned subsidiary of OUE Commercial REIT (OUE CREIT) have established a $2b multicurrency debt issuance programme, according to an SGX filing.

Under the programme, DBS Trustee and OUE CT Treasury may from time to time issue notes and perpetual securities denominated in Singapore dollars or any currency as agreed between the issuer and dealers.

The issuers expect to use the net proceeds from the programme for purposes including refinancing of the REIT’s existing borrowings, general corporate funding and general working capital purposes of the group.

Securities issued by OCTPL will be unconditionally and irrevocably guaranteed by the trustee. OUE CREIT has also appointed OCBC and Standard Chartered Bank (Singapore) Limited as the arrangers and dealers of the programme.