RETAIL landlord SPH Reit has established a S$1 billion multicurrency debt issuance programme, with part of the proceeds to be potentially used for a possible acquisition.
The Reit's manager, SPH Reit Management, is currently conducting due diligence on the potential acquisition. "Discussions about the potential acquisition are still preliminary and there can be no assurance that the acquisition will materialise at all," the manager said. Under the programme, the Reit will issue notes and perpetual securities. Detailed terms and conditions, including pricing, of these securities are set out in an information memorandum dated Aug 21, 2019.Overall, net proceeds from the issue of securities under the debt programme will be used for general working capital, capital expenditure, corporate requirements such as acquisitions and investments, and/or refinancing existing borrowings.
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