Indonesia-focused retail REIT, Lippo Malls Indonesia Retail Trust (SGX:D5IU), announced on 16 June that it has priced its SGD75 million 4.10% notes due 2020.

The notes will be issued under its SGD750 million guaranteed Euro medium term note programme. Oversea-Chinese Banking Corporation Limited and Standard Chartered Bank have been appointed as the joint bookrunners of the notes.

“The notes will mature on or about 22 June 2020 and will bear a fixed interest rate of 4.10% per annum payable semi-annually in arrear”, said the REIT in an announcement on the pricing.

“Subsequent to receiving a Baa3 rating from Moody’s last week, we are delighted that we are able to capitalize on the increased confidence from the investors to achieve such favourable terms for the notes”, said Alvin Cheng, CEO of the REIT’s manager, on the notes’ issuance.

Units of Lippo Malls Indonesia Retail Trust are currently listed on the Singapore Exchange at SGD0.37.