OUE Commercial REIT's OUE Downtown (Photo: REITsWeek)OUE Commercial REIT's OUE Downtown (Photo: REITsWeek)

The manager of OUE Commercial REIT has established an SGD2 billion multicurrency debt programme.

The REIT has also appointed OCBC, and Standard Chartered as arrangers and dealers in the programme.

Under the programme, OUE Commercial REIT may issue SGD-denominated notes and perpetual securities in various amounts and tenors.

Perpetual securities will have no fixed maturities, may be issued in various amounts, and may bear fixed or floating rates of distribution.

OUE Commercial REIT is expected to deploy net proceeds from the issue of the securities to refinance the existing borrowings, or for general corporate purposes.

By Shariffa Al-Habshee

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