HSBC Institutional Trust Services, as trustee of Suntec REIT, has issued $200 million fixed rate subordinated perpetual securities under the US$2 billion ($2.72 billion) Euro Medium Term Securities Programme on Oct 27.

Oversea-Chinese Banking Corporation (OCBC) was appointed as the sole lead manager for the perpetual securities.

Suntec REIT says the net proceeds will be used by the REIT and its subsidiaries for refinancing its existing borrowings, financing or refinancing its acquisitions or investments, as well as financing asset enhancement works.

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