OUE Limited - OCBC Investment 2017-04-12: Proposed issue of S$200m notes due 2022

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OUE LIMITED LJ3.SI

OUE Limited - Proposed issue of S$200m notes due 2022

• OUE recently reported that it will issue S$200m 3.75% notes due 2022 under the S$3b multi-currency debt issuance programme established in Nov 2016. 
• The joint lead managers and book-runners for the issue of these notes are HSBC and OCBC. 
• The notes will be issued in registered form at the issue price of 100% of the principal amount of the notes and in denominations of S$250,000 each. 
• The group expects that the net proceeds from the issue of these notes will be used for funding general working capital and general corporate funding purposes. 
• Maintain BUY on OUE with an unchanged fair value estimate of S$2.17.

Eli Lee OCBC Investment | http://www.ocbcresearch.com/ 2017-04-12

OCBC Investment SGX Stock Analyst Report BUY Maintain BUY 2.170 Same 2.170