Singapore retail REIT CapitaMall Trust (CMT) (SGX:C38U) has issued, through a wholly-owned subsidiary, HKD1,104,000,000 worth of 2.77% fixed rate notes due 5 February 2027 to selected investors.
The notes will mature on 5 February 2027 and will bear interest at a rate of 2.77% per annum payable quarterly.
The notes have been issued under the SGD2,500,000,000 multicurrency Medium Term Note (MTN) programme established by the subsidiary on 16 April 2007 and are guaranteed by HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of CMT.
The CMT subsidiary has entered into swap transactions to swap the HKD proceeds of the notes into Singapore dollar proceeds of S$192,800,000 at a SGD fixed interest rate of 3.25% per annum.
Proceeds from the issue of the notes will be used by CMT and its subsidiaries to refinance the existing borrowings, finance any asset enhancement works initiated by the REIT and fund general operations of CMT and its related companies.
Units of CMT are currently listed on the SGX at SGD2.17.