The manager of OUE REIT TS0U has issued $120 million of green notes under its $2 billion multicurrency debt issuance programme.
The notes will bear an interest rate of 3.9% per annum and interest on the notes will be payable semi-annually in arrear. The notes are set to mature on Sept 26, 2031.
The issuer may choose to redeem all of the notes, at its option, at any time at 100% of their principal amount plus accrued and unpaid interest if the amount outstanding is less than 10% of the principal amount originally issued.
According to the manager, the notes are set to be consolidated and formed under a single series with the REIT’s $180 mil of green notes, which were issued on Sept 26.
Oversea-Chinese Banking Corporation was appointed as the sole global coordinator, while DBS Bank and Oversea-Chinese Banking Corporation were the joint lead managers and bookrunners of the offering of the notes. Oversea-Chinese Banking Corporation Limited was also the green finance adviser to OUE REIT.
The net proceeds from the notes are expected to go towards the financing or refinancing, in whole or in part, new or existing eligible green projects that meet one or more of the categories of eligibility as recognised in the green bond principles and green loan principles in accordance with the OUE REIT’s green financing framework.
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As at Nov 21, the manager says the notes have been issued at an issue price of 100.714% of the principal amount with accrued interest from Sept 26 to Nov 21.
Units in OUE REIT closed flat at 28 cents on Nov 21.
