Suntec to issue $150m perps at 4.25% fixed rate

The perpetual securities are a part of Suntec REIT’s US$2b Euro Medium Term Securities Programme.

Suntec Real Estate Investment Trust (Suntec REIT) will issue $150m subordinated perpetual securities with a fixed rate of 4.25% per annum.

The rate of distribution will be from June 15, 2021 to before June 15, 2026, payable semi-annually on June 15 and December 15 each year.

The perps is a part of Suntec’s US$200m Euro Medium Term Securities Programme.

HSBC Singapore Branch and UOB are the joint lead managers of these perpetual securities.

Proceeds will be used for refinancing of existing borrowings, financing or refinancing of its acquisitions and/or investments, financing asset enhancement works, and general corporate purposes.