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CDL prices S$200m four-year fixed rate notes at 2.8%
CITY Developments Limited (CDL) has set a 2.8 per cent coupon for its S$200 million four-year senior fixed rate notes.
The unrated and unlisted notes are issued under the developer's S$5 billion medium term note programme, and will mature on June 27, 2023.
Proceeds will be used to finance general working capital, corporate funding of the group and/or to refinance existing borrowings.
DBS is the sole bookrunner for the issue.
Mainboard-listed CDL's shares were down 0.11 per cent or S$0.01 at S$9.52 as at 9.15am.