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Starhill Global REIT to raise S$100m 5-year notes at 3.15% per annum

KUALA LUMPUR (June 2): YTL Starhill Global REIT Management Ltd, the manager of Singapore-listed Starhill Global Real Estate Investment Trust (Starhill Global REIT), said it has priced its 5-year S$100 million medium term notes at 3.15% per annum.

In a Singapore bourse filing yesterday, YTL Starhill Global REIT said the “Series 001” notes will bear interest at a fixed rate of 3.15% per annum, payable semi-annually in arrear, will have a tenure of 5 years, while the maturity date of the bond is fixed on June 5, 2025.

“The Series 001 Notes will be issued under the S$2 billion Multicurrency Debt Issuance Programme established by the Starhill Global REIT Trustee and the issuer on 3 January 2020 and are unconditionally and irrevocably guaranteed by the Starhill Global REIT Trustee,” it said.

It also said the bond issuance will be made by by Starhill Global REIT MTN Pte Ltd, a wholly-owned subsidiary of HSBC Institutional Trust Services (Singapore) Limited.

DBS Bank Ltd and United Overseas Bank Ltd have been appointed as joint lead managers and bookrunners of the bond and will be primarily offered in Singapore.

At the Singapore bourse today, Starhill Global REIT units were traded up 7.07% or 3.5 Singapore cents at 53 cents prior to lunch break for a total market capitalisation of S$1.16 billion. The stock saw 4.19 million units traded.

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