ARA Trust Management, the manager of Suntec REIT announced on Oct 16 that it had increased the REIT’s Euro Medium Term Note Programme limit to US$2 billion ($2.72 billion) from US$1.5 billion previously.
The programme also saw the addition of HSBC Institutional Trust Services (trustee of Suntec REIT) with the authority to issue perpetual securities.
The said programme has been renamed as the US$2 billion Euro Medium Term Securities Programme.
Under the amended programme, Suntec REIT MTN, a wholly-owned subsidiary of HSBC Institutional Trust Services, may issue notes, while HSBC Institutional Trust Services, as trustee of the REIT, may issue perpetual securities.
HSBC may also nominate any newly incorporated wholly-owned subsidiary of Suntec REIT with no operating history to accede to the amended programme.
Australia and New Zealand Banking Group Limited, Citigroup Global Markets Singapore, DBS Bank and Standard Chartered Bank (Singapore) Limited have been appointed as arrangers and initial dealers to the amended programme.
As at 9.52am, units in Suntec REIT are trading 2 cents higher or 1.4% up at $1.46.
