CapitaLand Investment to issue S$400m worth of notes due 2027 at 3.33%

Janice Lim

Published Wed, Apr 6, 2022 · 08:51 AM

CAPITALAND Investment 9CI : 9CI 0%will be issuing S$400 million worth of senior notes at a fixed rate of 3.33 per cent that are due in 2027.

They will be issued at par on Apr 12 under a S$6 billion euro medium term note programme established in November last year, said the real estatement investment arm of property developer CapitaLand in a bourse filing on Tuesday (Apr 5) evening.

According to deal stats seen by The Business Times, these notes were oversubscribed by almost twice, with an order book of S$780 million across 80 accounts.

Almost an equal number of orders came from private banks (33 per cent) and insurers or funds (30 per cent). Other banks and corporations took up 25 per cent of the orders, while the remaining went to the public sector.

The funds raised will be used to refinance the company's existing borrowings and finance its investments, as well as for other general corporate purposes.

DBS, HSBC, OCBC Bank and UOB have been appointed as the joint lead managers and joint bookrunners for the issue of these notes.