Mapletree Logistics Trust to issue S$50M notes

Mapletree Logistics Trust entered a deal to acquire the Yeoju Logistics Centre in South Korea in October 2021. Credit: Mapletree Logistics TrustMapletree Logistics Trust entered a deal to acquire the Yeoju Logistics Centre in South Korea in October 2021. Credit: Mapletree Logistics Trust

Mapletree Logistics Trust said Friday it plans to issue S$50 million in notes due 2029 at 3.512 percent, with the proceeds to be used for general corporate purposes, including refinancing existing borrowings.

The REIT said the bonds won’t be listed.

The notes, which are unsecured, are expected to be rated BBB-plus by Fitch Ratings, the REIT said in a filing to SGX.

DBS Bank is the sole manager for the issuance, the filing said.

The REIT said the bonds will be issued as series 008 under the trust’s S$3 billion euro medium term securities program.

The notes will be issued via wholly owned subsidiary MapletreeLog Treasury Co., Mapletree Logistics Trust said.