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 (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.
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Units in OUE REIT closed 0.5 cents lower, or down 1.54%, at 32 cents on Sept 18.
