By Marisa Wong
Morgantown, W.Va., July 5 – CapitaLand Commercial Trust’s wholly owned subsidiary, CCT MTN Pte. Ltd., issued S$75 million of 2.77% six-year notes on Monday, according to a company announcement.
The notes (/A-/) are guaranteed by HSBC Institutional Trust Services (Singapore) Ltd., the trustee of CapitaLand Commercial Trust.
The notes were issued under the company’s S$2 billion multicurrency medium-term note program established in November 2007.
Proceeds will be used to refinance existing borrowings under a bank loan due in 2020.
The real estate investment trust is based in Singapore.
| Issuer: | CCT MTN Pte. Ltd.
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| Guarantor: | HSBC Institutional Trust Services (Singapore) Ltd.
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| Issue: | Medium-term notes
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| Amount: | S$75 million
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| Maturity: | July 4, 2022
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| Coupon: | 2.77%
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| Settlement date: | July 4
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| Rating: | S&P: A-
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