Starhill Global REIT's Ngee Ann City property. (Photo: REITsWeek)

Singapore-listed retail landlord Starhill Global REIT has established an SGD2 billion multicurrency debt issuance programme.

The programme could see the REIT’s trustee, HSBC Institutional Trust Services, issue notes, and perpetual securities for Starhill Global REIT.

The REIT’s manager announced on 3 January that as part of the programme, Starhill Global REIT’s subsidiaries may also issue notes.

The proceeds of such issuances will be used by Starhill Global REIT finance property acquisitions, pay back loans, or for general working purposes.

Starhill Global REIT has portfolio of 10 retail and office properties across Singapore, Australia, Malaysia, China and Japan.

As at 30 September 2019, the REIT has a gearing level of 36.2%, and a weighted average debt maturity of 3.2 years.

Starhill Global REIT was last done on the Singapore Exchange at SGD0.72.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.