OUE turns back clock with $233m equity-linked combo

Singaporean property developer’s concurrent convertible and exchangeable bond sale is first of its kind in Asia in more than a decade. It faced a series of challenges to win over investors.

OUE turns back clock with $233m equity-linked combo

Developer OUE has become the latest issuer to join a convertible debt hot streak in Asia ex-Japan as the Singaporean property firm raised S$305 million $233 million from two bond sales on Tuesday.

In concurrent deals, the developer raised S$154.75 million from a five-year convertible bond and another S$150 million from an exchangeable bond of the same tenor, with OUE Hospitality Trust being the underlying entity.

The transaction marked Asia's first concurrent...

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