By Marisa Wong
Morgantown, W.Va., Aug. 24 – OUE Commercial Real Estate Investment Trust announced that OUE CT Treasury Pte. Ltd. priced S$150 million of three-year notes at par to yield 3.03%.
The notes will be issued under the company’s S$1.5 billion multicurrency debt issuance program established in August 2015. The program is guaranteed by OUE CT Treasury’s parent company, DBS Trustee Ltd., the trustee of OUE Commercial REIT.
The final order book of over S$400 million was supported primarily by institutional investors, according to a company press release.
OUE Commercial said the proceeds from its maiden Singapore dollar notes issuance will be used mainly to refinance existing borrowings as well as to fund any capital expenditure or working capital requirements.
The commercial real estate investment trust is based in Singapore.
| Issuer: | OUE CT Treasury Pte. Ltd.
|
| Guarantor: | DBS Trustee Ltd.
|
| Issue: | Notes
|
| Amount: | S$150 million
|
| Maturity: | Sept. 5, 2020
|
| Coupon: | 3.03%
|
| Price: | Par
|
| Yield: | 3.03%
|
| Announcement date: | Aug. 24
|
| Settlement date: | Sept. 5
|
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