Hotel Properties prices 5-year notes at 5.1%
HOTEL Properties : H15 0% (HPL) has priced S$190 million in fixed-rate senior unsecured notes due May 3, 2029, at 5.1 per cent. Coupon payments will be made semi-annually in arrears on May 3 and Nov 3 each year.
The notes were issued under the hotel operator and property group’s S$1 billion multicurrency debt issuance programme dated March 3, 2017.
Net proceeds from the issuance will be used to finance working capital requirements and refinance existing borrowings, including redeeming the S$160 million 4.4 per cent perpetual securities the group issued.
DBS, OCBC and UOB were the joint bookrunners for the issue.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
SAP extends CEO Klein’s contract until 2028
Paragon Reit posts 3% rise in Q1 gross revenue to S$73.8 million
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Singapore Airlines orders 1,000 tonnes of sustainable aviation fuel from Neste
Reits lead gainers on Monday as STI climbs 0.3%
Singapore battles to revive struggling stock market