STARHILL Global Real Estate Investment Trust (Starhill Global Reit) has closed the order book for S$100 million of five-year notes, recording S$225 million from 26 accounts, joint lead manager and bookrunner DBS said on Monday. Read more at The Business Times.
STARHILL Global Real Estate Investment Trust has closed the order book for S$100 million of five-year notes, recording S$225 million from 26 accounts, joint lead manager and bookrunner DBS said on Monday.
The senior, unsecured notes - which are not rated - will carry a coupon of 3.15 per cent per annum, which is 262 basis points above the five-year swap offer rate. They are expected to be issued on June 5, 2020, and will mature on June 5, 2025. They will also be unconditionally and irrevocably guaranteed by the Reit's trustee, the Reit manager said separately on Monday.
The Series 001 notes fall under the S$2 billion multicurrency debt issuance programme of Starhill Global Reit MTN, the Reit trustee's wholly-owned subsidiary. DBS said 90 per cent of the offering went to fund managers, banks and insurers, 6 per cent went to private banks, and 4 per cent went to agencies and corporations.
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