Retail REIT CapitaLand Mall Trust's property, Bugis +Retail REIT CapitaLand Mall Trust's property, Bugis +

Singapore-listed retail REIT, CapitaLand Mall Trust (SGX:C38U), announced on 25 February that it has issued SGD100 million fixed rate notes due 25 February 2026 to institutional investors.

The notes were issued via a wholly owned subsidiary of the REIT known as CMT MTN Pte Ltd.

The notes will bear interest at a rate of 3.50% per annum, payable semi-annually in arrear and issued under the SGD2.5 billion multicurrency medium term note programme that was established in April 2007.

The programme is guaranteed by HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of the REIT.

Proceeds from the issue of the notes will be used for various reasons including the refinancing of CapitaLand Mall Trust’s existing borrowings and asset enhancement works, said the REIT.

The notes will be listed and quoted on the Singapore Exchange from 9.00 a.m. on 26 February 2016.

Units of CapitaLand Mall Trust finished the trading day 2.4% higher from its previous close on the Singapore Exchange to end at SGD2.11.

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.