Suntec REIT issues $250m perpetual securities

Net proceeds will be used to refinance existing borrowings.

Suntec Real Estate Investment Trust (Suntec REIT) has issued $250m worth of fixed rate subordinated perpetual securities under its US$2b Euro Medium Term Securities Programme.

The issuance, completed on 17 June 2025, was managed by joint lead managers DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited.

Net proceeds from the issuance will be used to refinance existing borrowings—potentially including the $200m fixed rate perpetual securities callable in October 2025—and to support the group’s general working capital and capital expenditure requirements.

The perpetual securities were offered in Singapore to institutional and accredited investors in accordance with Sections 274 and 275 of the Securities and Futures Act 2001, respectively.

Approval in-principle for the listing of the securities has been obtained from the Singapore Exchange (SGX-ST), with trading expected to commence at 9.00 a.m. on 18 June 2025.

The SGX-ST’s approval is not to be regarded as an indication of the merits of the securities, Suntec REIT, or any of its related entities.

The issuance was made through HSBC Institutional Trust Services (Singapore) Limited, acting as trustee of Suntec REIT, with ESR Trust Management (Suntec) Limited serving as the REIT’s manager.