Suntec REIT prices $200m 5-year notes at 2.60%

The notes will be issued under the Euro Medium Term Note Programme.

Suntec REIT has launched and priced the $200m 2.60% notes due 2025, according to an announcement. The notes will be issued under the $2.13b (US$1.5b) Euro Medium Term Note Programme established by Suntec REIT MTN on 15 August 2013.

The notes have an issue price of 100% of their principal amount and in denominations of $250,000. It will bear interest at a fixed rate of 2.6% per annum that is payable semi-annually in arrear.

Its expected maturity date is on 27 May 2025 and will be listed on the Singapore Exchange Securities Trading.

Net proceeds from the issue of the notes will be used for financing or refinancing acquisitions and/or investments, financing any asset enhancement works, refinancing existing borrowings, as well as general corporate purposes.
The aggregate level of facilities which may be affected by a breach of the condition is approximately $3.9b, of which approximately $3.66b is drawn and outstanding.

United Overseas Bank Limited has been appointed to act as the sole lead manager and bookrunner for the issue of the notes.

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