Mapletree Greater China Commercial Trust's Sandhill Plaza (Photo: Colliers International)Mapletree Greater China Commercial Trust's Sandhill Plaza (Photo: Colliers International)

Singapore-listed retail and office REIT, Mapletree Greater China Commercial Trust (SGX:RW0U), announced on 17 March that it has issued SGD120 million in principal amount of 3.50% notes.

The notes, which are due due 2023, were issued under its USD1.5 billion Euro medium term securities programme. The notes are guaranteed by DBS Trustee Limited in its capacity as trustee of the REIT.

Moody’s Investors Service has assigned a definitive Baa1 rating to the notes, which is similar to Mapletree Greater China Commercial Trust’s long-term issue rating. .

DBS Bank has been appointed as the dealer for the issue of the notes.

Units of the REIT finished 2.14% higher from its previous close on the Singapore Exchange to end at SGD0.955.

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.