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Starhill Global REIT prices $100 mil perpetual securities with 3.85% coupon under $2 bil multicurrency debt issuance programme

Felicia Tan
Felicia Tan • 1 min read
Starhill Global REIT prices $100 mil perpetual securities with 3.85% coupon under $2 bil multicurrency debt issuance programme
Distributions under the Series 002 Perpetual Securities shall be payable semi-annually in arrear on June 15 and Dec 15 annually.
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Starhill Global REIT has priced $100 million perpetual securities comprised in Series 002 under the $2 billion Multicurrency Debt Issuance Programme on Dec 9.

The Series 002 Perpetual Securities will be issued by the REIT’s trustee HSBC Institutional Trust Services and carries a coupon of 3.85% per annum.

The Series 002 Perpetual Securities will have no fixed final redemption date and will confer a right to receive distribution payment.

The distribution rate applicable includes the period from Dec 15, 2020, to Dec 15, 2025.

Distributions under the Series 002 Perpetual Securities shall be payable semi-annually in arrear on June 15 and Dec 15 annually, and will begin on June 15, 2021.

Oversea-Chinese Banking Corporation Limited (OCBC) has been appointed as the sole lead manager and bookrunner of the Series 002 Perpetual Securities and will offer the Series 002 Perpetual Securities primarily in Singapore.

Units in Starhill Global REIT closed flat at 48 cents on Dec 9.

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