The manager of CapitaLand Integrated Commercial Trust (CICT) says CMT MTN, a wholly-owned subsidiary of CICT has issued $250 million worth of notes due Dec 7, 2032.
The notes, which are guaranteed by CICT’s trustee, HSBC Institutional Trust Services, will carry a coupon of 2.15% per annum that’s payable semi-annually in arrear, and will be drawn down under CICT’s $7 billion multicurrency medium term note programme.
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The proceeds from the issue of the notes will go to refinancing the existing borrowings of the CICT group, to finance investments comprised by CICT, to on-lend to any trust, fund or entity in which CICT has an interest, to finance any asset enhancement works initiated in respect of CICT or such trust, fund or entity, and to finance the general corporate and working capital purposes in respect of the CICT Group.
The notes have been granted approval-in-principle by the Singapore Exchange Securities Trading Limited (SGX-ST), and will be listed and quoted on the SGX-ST on Dec 8.
Units in CICT closed 2 cents higher or 1% up at $2 on Dec 4.
