CapitaLand Mall Trust said on Tuesday that its wholly owned subsidiary, CMT MTN, issued HK$555 million in fixed rate notes due 20 November 2025 to institutional and/or sophisticated investors.
The notes have an interest rate of 3.836 percent per annum, payable quarterly, it said in a filing to SGX on Tuesday.
The proceeds will be used to refinance existing borrowings, to finance investments, to finance any asset enhancement works and to finance general working capital, it said.
The notes were issued under the S$3.5 billion multicurrency medium term note program established in 2007 and are guaranteed by HSBC Institutional Trust Services (Singapore), in its capacity as CMT’s trustee, the filing said.
CMT MTN has entered into swap transactions to convert the Hong Kong dollar proceeds into Singapore dollar proceeds of S$98.79 million at a fixed Singapore dollar interest rate of 3.248 percent per annum, it said.
The Singapore Exchange Securities Trading (SGX-ST) has given approval-in-principle for the listing and quotation of the notes, which will take effect on Wednesday, it said.