CapitaLand China Trust to issue S$150M notes priced at 2.4 percent

The CapitaMall Wangjing mall in Beijing, part of the CapitaLand Retail China Trust portfolio. Credit: CapitaLand Retail China TrustThe CapitaMall Wangjing mall in Beijing, part of the CapitaLand Retail China Trust portfolio. Credit: CapitaLand Retail China Trust

CapitaLand China Trust, or CLCT, has priced S$150 million in bonds due 2028 at 2.40 percent, the REIT’s manager, CapitaLand China Trust Management, said Tuesday in a filing to SGX.

The issue date of the notes is expected to be 29 June, at 100 percent of the principal amount, the filing said, adding the net proceeds will be used for general corporate and working capital needs, investment or refinancing of existing borrowings.

The notes will be issued under the REIT’s S$1 billion multicurrency debt issuance programme, the filing said.

CLCT was previously known as CapitaLand Retail China Trust, with the name changed earlier this year after its investment mandate was expanded to include other types of commercial real estate in addition to retail assets.