Singapore-listed retail and office REIT Mapletree Commercial Trust (MCT) (SGX:N2IU) announced on 11 March that it has executed a pricing supplement to issue JPY8.7 billion (SGD99.3 million) in principal amount of floating rate notes due 2023.
The notes are issued under the REIT’s SGD1 billion multicurrency medium term note programme which was established on 8 August 2012.
MCT indicated that it has raised SGD50 million in its 3Q14/15 through the issuance of 5-year fixed rate notes at 2.65% per annum. The REIT said that proceeds from the issue has been used to early refinance part of the debt coming due in April 2015.
Moody’s Investors Service has on 10 March 2015 assigned a definitive rating of Baa1 to the notes, similar to MCT’s long-term issuer rating.
Units of MCT last changed hands on the Singapore Exchange at SGD1.51.