Mapletree Industrial Trust prices S$50 million notes at 3.751%

MAPLETREE Industrial Trust Treasury has priced S$50 million notes with a fixed coupon rate of 3.751 per cent per annum.

These notes, which are due in February 2027, is expected to be issued on Feb 16, 2024, said the manager of the real estate investment trust (Reit) in a bourse filing on Thursday (Feb 8).

The notes will be issued under the S$2 billion Euro Medium Term Securities Programme established in September 2018.

Proceeds raised from the issuance of these notes will be used towards refinancing Mapletree Industrial Trust’s existing borrowings.

The notes are expected to be assigned a rating of “BBB+” by Fitch Ratings, the same rating as the Reit’s long-term rating.

Units of Mapletree Industrial Trust fell 1.2 per cent or S$0.03 to close at S$2.38 on Thursday.