Singapore: First REIT prices Singapore’s first healthcare social bond to the benefit of Indonesia

Singapore’s first healthcare real estate trust, First REIT, has priced the country’s inaugural healthcare social bond. Proceeds will benefit the Indonesian population. The S$100m (US$73.4m) five-year bond pays a coupon of 3.25% and carries a guarantee from the Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (CGIF). The transaction represents…