CICT issues HK$900m of 2.95% fixed rate notes due in 2031

THE manager of CapitaLand Integrated Commercial Trust (CICT) said on Friday (Feb 18) that a wholly-owned subsidiary of CICT - CMT MTN - has issued HK$900 million of 2.95 per cent fixed rate notes due Feb 18, 2031 to institutional and/or sophisticated investors.

The proceeds from the notes will be used by the CICT group to finance or refinance eligible green projects undertaken by the CICT group in accordance with the CICT Green Finance framework, the manager said in an exchange filing.

CMT MTN has entered into swap transactions to swap the Hong Kong dollar proceeds into Singapore dollar (SGD) proceeds of S$155.2 million at an SGD fixed interest rate of 2.715 per cent per annum.

The notes have been issued under the US$3 billion Euro Medium Term Note Programme established by CMT MTN in March 2010, and are unconditionally and irrevocably guaranteed by HSBC Institutional Trust Services (Singapore), in its capacity as trustee of CICT.

Units of CICT closed at S$2.14 on Friday, up 0.5 per cent or S$0.01, before the announcement.