The manager of OUE LJ3 REIT has priced $180 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.
The REIT and the notes are rated “BBB-” by S&P Global Ratings. The notes are expected to be issued on Sept 26, and set to be listed on the Singapore Exchange S68 (SGX) on Sept 27.
Oversea-Chinese Banking Corporation Limited (OCBC) is the sole global coordinator, while DBS Bank Ltd., and OCBC are the joint lead managers and bookrunner of the offering of the notes.
According to the REIT manager, the net proceeds from the notes will go towards financing or refinancing new or existing eligible green projects that meet one or more of the categories recognised in the green bond principles and green loan principles under the REIT’s green financing framework.
See also: MLT to divest two properties in Japan for JPY4.3 bil
Units in OUE REIT closed 0.5 cents lower, or down 1.54%, at 32 cents on Sept 18.
