CapitaLand launches perpetual deal

CAPITALAND has launched a new perpetual issue on Thursday, and orders have already exceeded S$500 million.

The deal launched at 9am is a perpetual issue non-callable five years with an initial price guidance in the 3.85 per cent area, in a term sheet seen by The Business Times.

Orders for the issue exceeded S$500 million in an update released around noon.

The issuer CapitaLand Treasury Limited is a unit of CapitaLand, one of Asia's largest property group. CapitaLand Limited is the guarantor.

In August, CapitaLand sold S$800 million of 10-year notes, with the order book recording about S$1.4 billion from over 65 accounts.

The senior unsecured notes were also issued by subsidiary CapitaLand Treasury with a coupon of 3.15 per cent.