CapitaLand prices S$800 million fixed rate notes due 2029

Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.

CapitaLand’s wholly owned subsidiary CapitaLand Treasury has priced an offering of S$800 million fixed-rate notes due 2029 at 3.15 percent, the property developer said in a filing to SGX Thursday.

The notes will be issued under the S$5 billion euro medium-term note program established in April. CapitaLand will guarantee the notes, which are expected to be issued on 29 August, the filing said.

The net proceeds are earmarked to refinance existing borrowings, and to finance investments and general corporate purposes, CapitaLand said.

DBS Bank has been appointed the sole global coordinator, while DBS Bank and UOB will be the joint lead managers and bookrunners for the issuance, the filing said.

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