Singapore-listed industrial REIT, Mapletree Logistics Trust, announced on 25 May that it has issued SGD250 million in aggregate principal amount of 4.18% fixed rate perpetual securities.

The perpetual securities have been in the denomination of SGD250,000 and will confer a right to receive distribution payments at a rate of 4.18% per annum with the first distribution rate falling on 25 November 2021, and subsequent resets occurring every five years thereafter.

Mapletree Logistics Trust first announced on 16 May that it was issuing the perpetual securities for general corporate purposes that may include the funding of potential acquisitions and asset enhancement initiatives.

DBS Bank and Oversea-Chinese Banking Corporation Limited have been appointed as joint lead managers and bookrunners for the issue of the perpetual securities.

The securities are expected to be admitted to the Singapore Exchange with effect from 9.00 a.m. on 26 May 2016.

Units of Mapletree Logistics Trust finished the trading day about 0.6% higher from its previous close on the Singapore Exchange to end at SGD1.61.