CMT MTN, a wholly-owned subsidiary of CapitaLand Integrated Commercial Trust (CICT), has issued HK$713 million ($122.1 million) notes due Feb 1, 2033, guaranteed by HSBC Institutional Trust Services.
The notes, which are for institutional as well as sophisticated investors, will carry a coupon of 2.53% per annum and will be drawn down under the $7 billion multicurrency medium term note programme (MTN programme).
CMT MTN has entered into swap transactions to swap the HKD proceeds of the notes into Singapore dollar proceeds of $125 million at an SGD fixed interest rate of 2.15% per annum.
The proceeds from the issue of the notes will be used by CMT MTN and CICT to refinance the existing borrowings of the CICT group.
SGX-ST has granted approval-in-principle for the listing and quotation of the notes. The notes will be listed and quoted on the SGX-ST on Feb 2.
Units in CICT closed 2 cents lower or 0.9% down at $2.12 on Feb 1.
