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CDLHT sets up S$1.5 billion multicurrency debt issuance programme

CDLHT sets up S$1.5 billion multicurrency debt issuance programme

By Swedan Margen

Fashion

CDL Hospitality Trusts (CDLHT), a stapled group consisting of CDL Hospitality Real Estate Investment Trust (H-Reit) and CDL Hospitality Business Trust (HBT), announced the establishment of a S$1.5 billion multicurrency debt issuance programme through a bourse filing on Wednesday (Nov 5).

DBS has been appointed the sole arranger and dealer for the programme. The issuers are DBS Trustee, in its role as trustee of H-Reit, and M&C Business Trust Management, as the trustee-manager of HBT.

Net proceeds will be used to refinance existing borrowings, finance or refinance investments, and for fund asset enhancement works. Funds may also be used for on-lending and general working capital purposes.

Under the programme, the issuers may issue notes and perpetual securities in various tenors and currencies.

The notes may carry fixed, floating, variable or hybrid interest rates, while the perpetual securities will have no fixed maturity date and can be issued as senior or subordinated obligations.

The securities will be offered in Singapore to institutional and accredited investors and outside the US to non-US persons.

SEE ALSO

CDL Hospitality Trust’s UK assets are performing relatively well. Benson Yard, a purpose-built student accommodation building in Liverpool, has a committed occupancy rate of 97% for the academic year 2025/2026.
W Singapore – Sentosa Cove. CDL Hospitality Trusts' Singapore RevPAR falls 5.9% to S$201 from S$214.

CDLHT has received approval in-principle from the Singapore Exchange Securities Trading for the programme.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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