OUE C-REIT prices $100m notes due 2025 at 4%

The notes are expected to be issued on 24 June and to be listed on 25 June.

OUE Commercial REIT (OUE C-REIT) has priced its offering $100m 4% notes due 2025, an SGX filing revealed. The notes will be issued under the $2b multicurrency debt issuance programme.

The notes are expected to be issued on 24 June and to be listed on SGX-ST on 25 June. The issue price will be 100% of the principal amount with an interest rate of 4% per annum and payable semi-annually in arrear.

The issuer may redeem all, but not some of the notes, at any time on any interest payment date at 100% of their principal amount, plus accrued and unpaid interest if the aggregate principal amount of the notes outstanding is less than 10% of the aggregate principal amount originally issued, OUE C-REIT stated.

The issuer may also redeem all 100% of the principal amount plus accrued and unpaid interest upon the occurrence of specified taxation events. The notes shall be redeemed at 100% of the principal amount upon a delisting or suspension of trading of units in OUE C-REIT.

Oversea-Chinese Banking Corporation and Standard Chartered Bank (Singapore) have been appointed as joint lead managers and bookrunners of the offering of the notes.