UOL Group pricing benchmark bond: Client note

UOL Group’s Kinex mall in GeylangUOL Group’s Kinex mall in Geylang

UOL Group is pricing a seven-year benchmark bond, likely of at least S$250 million, with an initial price guidance of around 2.50 percent, according to a client note seen by Shenton Wire Tuesday.

The indicative rate was expected around 2.35 percent, the note said.

The senior unsecured fixed-rate notes will be issued via UOL Treasury Services under its S$2 billion multicurrency medium-term note program, the note said.

The notes will be in denominations of S$250,000, the note said.

The bookrunners for the notes are DBS Bank and UOB, the note said.

UOL Group is a property company with around S$20 billion in total assets across development and investment properties, hotels and serviced suites in Asia, Oceania, Europe and North America.

Its hotel subsidiary, Pan Pacific Hotels Group, operates under three brands: Pan Pacific, ParkRoyal Collection and ParkRoyal.