Soilbuild REIT won Highly Commended, Best Funding Solution Category at the Treasury Today Adam Smith Awards Asia 2017, announced at Four Seasons Hotel Singapore on 13th November 2017.
SB REIT Management Pte. Ltd., as manager of Soilbuild Business Space REIT (“Soilbuild REIT”, and the manager of Soilbuild REIT, the “Manager”), is pleased to announce that Soilbuild REIT is a highly commended winner for Best Funding Solution at the Treasury Today Adam Smith Awards Asia 2017. The Adam Smith Asia Awards Asia is recognised as the ultimate industry benchmark for achievement in corporate treasury. The standards of submissions were high with over 200 nominations received from a broad range of companies in terms of size and industry sector, with every major country and territory of the Asia-Pacific region represented. Soilbuild REIT had demonstrated a high degree of innovation in its response towards both a change of control event and withdrawal of its credit rating. The Manager obtained a S$200 million unsecured credit facility which was utilised for the notes redemption exercise upon the occurrence of the change of control event. Soilbuild REIT had earlier withdrawn both its issuer rating and the Baa3 rating on its S$100 million notes due 2021. This exercise had provided noteholders, particularly those who had bought investment grade rated notes, an option for redemption at par value and concurrently delivered significant cost savings for Soilbuild REIT in terms of consent, solicitation and professional fees.