Singapore’s OUE adds perpetual securities to debt issuance program

By Toni Weeks

San Luis Obispo, Calif., Jan. 14 – OUE Ltd. amended its S$3 billion multicurrency medium-term note program, according to an announcement.

The program, established on Jan. 11, 2011, now covers perpetual securities in addition to medium-term notes.

With the change, which takes effect on Jan. 14, the issuer has renamed the program “debt issuance program.”

Under the amended program, the issuer may issue securities from time to time in series or tranches denominated in Singapore dollars or any other currency agreed upon between the issuer and relevant dealer.

Proceeds will be used for general working capital, general corporate funding purposes, including investments and capital expenditures, and/or refinancing existing borrowings.

Standard Chartered Bank remains the arranger and dealer of the amended program and is also serving as the issuing and paying agent, agent bank, transfer agent and registrar. British and Malayan Trustees Ltd. is the trustee.

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

Singapore-based OUE is a diversified real estate owner, developer and operator.

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