Further to the announcement dated 17 November 2021, Cromwell EREIT Management Pte. Ltd. (in its capacity as manager of Cromwell European Real Estate Investment Trust (“CEREIT”)) (the “CEREIT Manager”), is pleased to announce that Perpetual (Asia) Limited (in its capacity as trustee of CEREIT) (the “Issuer”) has today issued S$100,000,000 fixed rate subordinated perpetual securities comprised in Series 001 (ISIN: SGXF90369095; SGX Stock Code: 5XEB) (the “Perpetual Securities”).
The Perpetual Securities were issued under the S$750,000,000 Multicurrency Perpetual Securities Programme (the “Programme”) established by the Issuer on 5 November 2021. DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited and Credit Suisse (Singapore) Limited were appointed as the joint lead managers for the Perpetual Securities. The Perpetual Securities were priced on 17 November 2021.
The Perpetual Securities were offered in Singapore pursuant to exemptions invoked under Sections 274, 275 and/or any other applicable provision of the Securities and Futures Act, Chapter 289 of Singapore.
The net proceeds from the issue of the Perpetual Securities (after deducting issue expenses) will be used by CEREIT and its subsidiaries (together, the “Group”) for financing or refinancing the Group’s acquisitions and/or investments, financing any asset enhancement works in which the Group has an interest, refinancing the Group’s existing borrowings and general corporate purposes.
Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for permission to deal in, and for quotation of, the Perpetual Securities on the SGX-ST. Such permission will be granted when the Perpetual Securities have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. The approval-in-principle from, admission of the Perpetual Securities to the Official List of, and the listing and quotation of the Perpetual Securities on, the SGX-ST are not to be taken as an indication of the merits of the Issuer, CEREIT, the CEREIT Manager, their respective subsidiaries, their respective associated companies (if any), the Programme or the Perpetual Securities.
The Perpetual Securities are expected to be admitted to the Official List of the SGX-ST with effect from 9.00 a.m. on 25 November 2021.
This announcement is not an offer to sell or a solicitation of an offer to buy, nor is it an offer, solicitation or sale of the Perpetual Securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
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