Singapore REIT

Starhill Global REIT Issues S$100 Million Notes Due 2025

June 9, 2020 — Starhill Global Real Estate Investment Trust issued S$100,000,000 notes at 3.15% due 2025 dubbed as the Series 001 Notes.

The Series 001 Notes are issued under the S$2,000,000,000 Multicurrency Debt Issuance Programme established by the Starhill Global REIT Trustee and the Issuer on 3 January 2020 and are unconditionally and irrevocably guaranteed by the Starhill Global REIT Trustee. DBS Bank Ltd. and United Overseas Bank Limited are the joint lead managers and bookrunners of the Series 001 Notes.

The Series 001 Notes were listed on the SGX-ST on 8 June 2020.

The Series 001 Notes bears a fixed interest rate of 3.15 per cent. per annum, payable semi-annually in arrear, and will mature on 5 June 2025. The Series 001 Notes may be redeemed at the option of the Issuer in whole or in part on any interest payment date prior to the maturity date on 5 June 2025 at the make-whole amount (as described in the pricing supplement for the Series 001 Notes) together with interest accrued to (but excluding) the date fixed for redemption.

The Issuer will on-lend the net proceeds arising from the issuance of the Series 001 Notes (after deducting issue expenses) to the Starhill Global REIT Trustee, who will in turn use such proceeds to refinance existing borrowings of Starhill Global REIT, meet capital expenditure requirements and/or for working capital purposes of Starhill Global REIT.

Read more here..

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