Mapletree Commercial Trust to issue S$120m 3.28% fixed rate notes due 2024

THE manager of Mapletree Commercial Trust (MCT) announced on Tuesday after trading hours that Mapletree Commercial Trust Treasury Company has issued S$120 million in principal amount of 3.28 per cent fixed rate notes due 2024.

This is part of its S$1 billion Multicurrency Medium Term Note Programme, which was established on Aug 8, 2012. Moody's Investors Service has on March 20, 2018 assigned a definitive rating of "Baa1" 2 to the notes, similar to MCT's long-term issuer rating.

The payment obligations of the issuer under the notes will be unconditionally and irrevocably guaranteed by DBS Trustee Limited. The proceeds arising from the issue of the notes will be on-lent to the MCT trustee to refinance existing borrowings of MCT.

DBS Bank has been appointed as the sole lead manager and bookrunner for the issue of the notes.