China-focused Mapletree Greater China Commercial Trust (MGCCT) (SGX:RW0U) has established a US$1.5 Billion Euro Medium Term Securities (EMTS) Programme and appointing Citigroup Global Markets Singapore and DBS Bank Limited as arrangers and dealers respectively.
|Mapletree Greater China Commercial Trust currently has 2 retail properties in its portfolio.|
Under the programme the MGCCT may issue securities from time to time and the net proceeds be used for "general corporate purposes". MGCCT has not revealed the tranches in which the securities will be released nor the specific purposes upon which the proceeds will be used for.
MGCCT started out last March with a total of 2 retail properties in its portfolio. The existence of a strong EMTS programme would generally put it in good posture to make further acquisitions or asset enhancement initiatives.
Units of MGCCT are currently trading at S$1.01 on the Singapore Exchange, considerably lower from just over a week ago when prices closed at S$1.15.