Suntec REIT prices $250m subordinated perpetual securities at 4.48%

Proceeds will be used to repay existing borrowings.

Suntec REIT has priced $250m subordinated perpetual securities under the US$2b Euro Medium Term Securities Programme.

The perpetual securities will be perpetual in respect of which there is no fixed redemption date and will confer a right to receive distribution payments.

The distribution rate for the perpetual securities from 17 June 2025 to 16 June 2030, or the first reset period, is 4.48% per annum.

From the first reset date onwards, the distribution rate will be reset at each reset date, reflecting the prevailing 5-year SORA-OIS rate plus a fixed margin of 2.656%.

The Perpetual Securities are expected to be issued on 17 June, subject to the satisfaction of customary closing conditions.

Distributions shall be payable semi-annually in arrears on 17 June and 17 December in each year, commencing on 17 December 2025 unless deferred.

Proceeds from the issue will be used to refinance debt and fund general working capital and capital expenditure requirements.

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