Mapletree Greater China Commercial Trust's Gateway Plaza (Photo: Mapletree Greater China Commercial Trust)Mapletree North Asia Commercial Trust's Gateway Plaza (Photo: Mapletree North Asia Commercial Trust)

Singapore-listed China centric office and retail REIT Mapletree Greater China Commercial Trust (MGCCT) (SGX:RW0U) announced today that its issue of SGD75 million in 3.20% notes due 2021 will list on the bond market on 9 September at 0900 hours.

The notes are issued under a US$1.5 billion Euro Medium Term Securities Programme which was established on 31 May 2013.

According to an earlier statement issue by the REIT on 2 September, the proceeds arising from the issue of the notes will be applied towards the refinancing of the existing borrowings of MGCCT.

Moody’s Investors Service has on 2 September 2014 assigned a definitive Baa1 rating to the notes.

Units of MGCCT is currently listed on the Singapore Exchange at SGD0.96, up by about 20% from its lowest point in January 2014.

Mapletree Greater China Commercial Trust Gateway Plaza
Mapletree Greater China Commercial Trust Gateway Plaza

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.