Singapore’s Parkway Life REIT amends MTN program to add perpetuals

By Marisa Wong

Morgantown, W.Va., Oct. 31 – Parkway Life Real Estate Investment Trust amended its S$500 million multicurrency medium-term note program established in August 2008 to include perpetual securities and to add trustee HSBC Institutional Trust Services (Singapore) Ltd. as an issuer for those perpetual securities.

Parkway Life also amended the debt issuance program to replace Standard Chartered Bank with DBS Bank Ltd. as the arranger and dealer, according to a company announcement.

HSBC Institutional Trust’s wholly owned subsidiary, Parkway Life MTN Pte. Ltd., will continue to be the issuer of medium-term notes under the program, with HSBC Institutional Trust as the guarantor. Perpetual securities, issued by the trustee, will not be guaranteed.

Parkway Life is a health care-focused real estate investment trust based in Singapore.

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