OUE proposes issuing S$150M notes due 2026

The OUE Bayfront building in Signapore’s central business district. Credit: Shenton WireThe OUE Bayfront building in Signapore’s central business district. Credit: Shenton Wire

OUE Ltd. has proposed issuing S$150 million 3.5 percent notes due 2026 as series 003 under the company’s S$3 billion multicurrency debt issuance program, the property developer said in a filing to SGX Tuesday.

The net proceeds will be used to fund general working capital purposes, and general corporate funding, including investments and capital expenditure, and for refinancing existing borrowings, OUE said.

The notes, which will be in denominations of S$250,000, are expected to be issued on 21 September, OUE said.

The joint lead managers and bookrunners for the offering are CIMB Bank’s Singapore and HSBC’s Singapore branch, the filing said.

The issuer will apply to SGX to list the notes, the filing said.

The notes will be issued by OUE’s wholly owned subsidiary OUE Treasury, the filing said.