Lendlease Global Commercial REIT Jem

Lendlease Global Commercial REIT (LREIT) has established a SGD500 million Euro commercial paper programme.

The programme was established by DBS Trustee Limited, in its capacity as trustee of LREIT.

Under the programme, the Issuer may from time to time issue euro-commercial paper notes in series or tranches, said the REIT.

These paper notes may also be issued in currencies such as Euros, Sterling, United States dollars, Japanese Yen, Hong Kong dollars and any other currency agreed between the Issuer and the dealer subject to approvals.

The notes will have tenors of not more than 364 days, the REIT added.

DBS Bank Ltd is the sole arranger of the programme and has been appointed as a dealer.

LREIT was last done on the Singapore Exchange at SGD0.545, which presently implies a distribution yield of 7.71% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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