Singapore's OUE Hospitality unit sets up $1 billion MTN program

By Toni Weeks

San Luis Obispo, Calif., April 2 - OUE Hospitality REIT Management Pte. Ltd. announced that OUE H-T Treasury Pte. Ltd. has established a $1 billion guaranteed euro medium-term note program.

DBS Bank Ltd. and Standard Chartered Bank are the joint arrangers and dealers.

Under the program, the issuer may issue notes in dollars or any other currencies in various amounts and tenors, and the notes may bear interest at fixed or floating rates.

All sums payable will be guaranteed by RBC Investor Services Trust Singapore Ltd., which is the parent company of OUE H-T Treasury and the trustee of OUE Hospitality.

The notes will be offered and sold outside the United States in reliance on Regulation S and in Singapore.

Proceeds will be used for general corporate purposes.

The company will apply to list notes issued under the program on the Singapore Exchange Securities Trading Ltd.

The Singapore-based company is a real estate investment trust that invests primarily in real estate used for hospitality.

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