Suntec REIT to issue S$100 million notes due 2025

An entrance to Suntec City mall; taken October 2018.An entrance to Suntec City mall.

Suntec REIT MTN (SRMTN), which is Suntec REIT’s trustee, launched and priced S$100 million 3.355 percent notes due 2025, which will be issued under its US$1.5 billion euro medium term note program, it said in a filing to SGX on Tuesday.

The notes will be issued at 100 percent of their principal amount and in denominations of S$250,000, the REIT manager, ARA Trust Management (Suntec), said.

The issuance date is expected to be 7 February, with a maturity date of 7 February 2025, the filing said, adding they will be listed on the Singapore Exchange Securities Trading.

The net proceeds are earmarked for financing or refinancing acquisitions and/or investments, financing any asset enhancement works, refinancing existing borrowings and general corporate purposes, the REIT manager said.

OCBC was appointed the sole lead manager for the issuance, it said.

 

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