Singapore’s OUE REIT sets up S$2 billion multicurrency debt program

By Rebecca Melvin

New York, March 20 – OUE Commercial REIT Management Pte. Ltd. has established a S$2 billion multicurrency debt issuance program that covers notes and perpetual securities, according to an announcement.

The program is guaranteed by OUE REIT.

Oversea-Chinese Banking Corp. Ltd. and Standard Chartered Bank (Singapore) Ltd. are the arrangers and dealers of the Regulation S program.

Each tranche that is issued under the program may be issued in fixed-, floating-, variable or hybrid rates or may not bear interest.

Proceeds will be used to refinance existing borrowings, for general corporate funding, to finance general working capital purposes of the group and for other purposes.

The real estate developer is based in Singapore.

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