Starhill Global REIT has priced S$125 million 2.23 percent notes due 2028, as the series 003 notes to be issued under its S$2 billion multicurrency debt issuance program, the REIT’s manager said in a filing to SGX Monday.
The proceeds will be used to refinance existing borrowings, meet capital expenditure requirements and/or for working capital purposes, Starhill Global REIT said.
The joint lead managers and bookrunners of the notes are CIMB Bank’s Singapore branch and DBS Bank, the filing said, adding the notes will primarily be offered in Singapore.
The notes can be redeemed in whole or in part on any interest payment date before the maturity on 13 September 2028 at the make-whole pricing, the filing said.
The notes are expected to be issued on 13 September, with listing on SGX expected on or around the next business day, the filing said; the REIT said it had applied to SGX to list the notes.