AN OUE subsidiary, OUE Treasury, has proposed to issue S$50 million in green notes due 2029 at a fixed rate of 4 per cent per annum, the property player said on Tuesday (Oct 22).
The green notes are part of OUE’s S$3 billion multicurrency debt issuance programme, established in 2016.
This issuance will be consolidated with OUE’s existing S$150 million in green notes, which were issued on Oct 8, 2024, to form a single series.
OUE expects the notes to be issued on Oct 29, and – unless previously redeemed or purchased and cancelled – mature on Oct 8, 2029.
This tranche of notes will be offered at an issue price of 99.998 per cent of their principal amount, plus accrued interest from, and including, Oct 8 to, but excluding, Oct 29, and in denominations of S$250,000.
Interest is payable semi-annually in arrear on Apr 8 and Oct 8 each year, commencing on Apr 8, 2025.
Net proceeds from the issuance will be applied exclusively to finance or refinance, in whole or in part, new or existing green projects that meet eligibility criteria, OUE said.
DBS, OCBC and the Singapore branches of CIMB and HSBC are the joint lead managers and bookrunners, while CIMB, HSBC and OCBC are the joint green finance structuring banks.
Shares of OUE closed flat at S$1.05 on Tuesday.
