By Jennifer Chiou
New York, Feb. 19 - Suntec Real Estate Investment Trust announced the issue of S$250 million of convertible bonds due March 18, 2018 with a S$30 million greenshoe. The bonds priced at par with a 1.4% coupon.
The bonds are convertible into cash and/or new ordinary Suntec units.
According to a filing with the Singapore Exchange, the issue was oversubscribed.
Citigroup Global Markets Singapore Pte. Ltd. and Nomura Singapore Ltd. are the joint lead managers.
Citigroup and Nomura International plc are the joint underwriters.
Singapore-based Suntec owns retail and commercial real estate in the central business district of Singapore.
| Issuer: | Suntec Real Estate Investment Trust
|
| Issue: | Convertible bonds
|
| Amount: | S$280 million, including S$30 million greenshoe
|
| Maturity: | March 18, 2018
|
| Coupon: | 1.4%
|
| Price: | Par
|
| Initial conversion price: | S$2.154 per unit
|
| Conversion period: | From April 28, 2013 to March 11, 2018
|
| Put: | At par plus accrued interest on March 18, 2016 or if units are suspended from trading for more than 45 consecutive trading days
|
| Call: | From March 18, 2016 onwards, subject to 130% hurdle
|
| Managers: | Citigroup Global Markets Singapore Pte. Ltd. and Nomura Singapore Ltd.
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 20
|
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