Hotel Properties issues $220m notes at 4.4% per annum

Net proceeds will be used to refinance existing borrowings.

Hotel Properties Limited has issued $220m in aggregate principal amount of 4.4% notes due 2030 on 10 June 2025 to institutional and accredited investors.

The notes bear interest at a fixed rate of 4.4% per annum, payable semi-annually in arrears on 10 June and 10 December each year, and will mature on 10 June 2030.

Net proceeds will be used to refinance existing borrowings and finance the company’s working capital requirements.

DBS Bank, Oversea-Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB) were the joint lead managers for the notes.

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