CORRECT:OUE Commercial REIT Offers 113BPS All-In for S$680m Loan

(Corrects loan tenor in second bullet in story originally published Jan. 14) OUE Commercial Real Estate Investment Trust (OUECT), which made its trading debut last month, is marketing a S$680m three-part loan in general syndication, according to two people familiar with the matter. * ANZ, CIMB, OCBC and Standard Chartered are the arrangers and have pre-funded the facility, the people said, asking not to be identified because the details are private * Facility comprises a S$280m 5-yr term loan, S$300m 3-yr term loan and a S$100m 3-yr revolving credit * Proceeds are to fund co.’s purchase of OUE Bayfront office building in Singapore * Borrower: DBS Trustee Ltd. (trustee of OUE Commercial REIT) * Amount: S$680m (S$280m 5-yr term loan, S$300m 3-yr term loan and a S$100m 3-yr revolver) * Currency: SGD * Loan type: Term loan, revolver * Tenor: 3 yrs, 5 yrs (blended average life at ~3.57 yrs) * Blended margin: 71bps more than Sibor * Fee: 150bps for S$100m and above; 125bps for S$50m to S$99m * All-in rate: 113bps; 106bps * MLAs: ANZ, CIMB, OCBC, Standard Chartered * Status: In general syndication, responses due March 14 * Co.’s Singapore-based spokespeople weren’t immediately available to comment on the financing when contacted by phone and email today

To contact the reporter on this story: Foster Wong in Hong Kong at fwong94@bloomberg.net

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net

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