Mapletree Logistics Trust’s issue of 183 million units dubbed a credit positive by Moody’s

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Mapletree Logistics Trust’s (MLT’s) private placement exercise that raised equity proceeds of SGD220 million (USD164 million) has been dubbed a credit positive move by Moody’s.

MLT first announced in May 2018 that it was acquiring 50% indirect interests in 11 properties across China, and has launched a private placement to fund the acquisition.

Read: Mapletree REIT receives nod to acquire 11 properties across China

The 11 properties are Grade-A logistics assets in various cities, and have a committed occupancy of 97.7% collectively.

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