DBS Trustee Limited, in its capacity as trustee of Soilbuild Business Space REIT (SGX:SV3U), has on 21 May issued SGD100 million in 3.45% fixed rate notes due 2018.

The notes are issued pursuant to the issuer’s SGD500 million multicurrency debt issuance programme established on 24 April 2015. DBS Bank Limited and Oversea-Chinese Banking Corporation Limited acted as the joint lead managers and bookrunners respectively in relation to the issue of the otes.

The notes will bear interest at 3.45% per annum and will mature on 21 May 2018. Net proceeds arising from the issue of the bonds will be used for the purpose of refinancing the existing borrowings of Soilbuild REIT that are due in August 2015, said a statement from the REIT issued on the same day.

Units of Soilbuild REIT are currently listed on the Singapore Exchange at SGD0.84.