By William Gullotti
Buffalo, N.Y., Sept. 21 – OUE Ltd. guaranteed an upsized offering of S$200 million 3˝% notes due Sept. 21, 2026, according to a notice on Tuesday.
The company initially announced that it would be selling S$150 million of the notes, but the offer was upsized to S$200 million, due to additional investor demand.
As previously reported, the notes are being issued by wholly-owned subsidiary OUE Treasury Pte. Ltd.
The notes priced at par.
The series 003 notes are a drawdown of the issuer’s S$5 billion multicurrency debt issuance program established Nov. 30, 2016, and the issue is a S$50 million increase from the previously reported total on Sept. 14.
CIMB Bank Bhd., Singapore Branch and HSBC Corp., Ltd., Singapore Branch are the joint lead managers and joint bookrunners for the offering.
Proceeds from the offering will be used to fund working capital, for general corporate purposes and for refinancing of existing borrowings.
Listing is expected on the Singapore Exchange effective Sept. 22.
OUE Ltd. is a Singapore-based real estate developer.
| Issuer: | OUE Treasury Pte. Ltd.
|
| Guarantor: | OUE Ltd.
|
| Issue: | Notes, series 003
|
| Amount: | S$200 million
|
| Maturity: | Sept. 21, 2026
|
| Bookrunners: | CIMB Bank Bhd., Singapore Branch and HSBC Corp., Ltd., Singapore Branch
|
| Coupon: | 3˝%
|
| Price: | Par of S$250,000
|
| Yield: | 3˝%
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 21
|
| Listing date: | Sept. 22
|
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