Singapore's CapitaCommercial announces S$1 billion note program

By Susanna Moon

Chicago, Nov. 20 - CCT MTN Pte. Ltd. established a S$1 billion multicurrency medium-term note program, according to CapitaCommercial Trust Management Ltd., manager of CapitaCommercial Trust.

CCT MTN is a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Ltd., which is trustee of CapitaCommercial Trust.

Under the program, notes may be issued in series or tranches in Singapore dollars, U.S. dollars or other currency. Each series or tranche may be issued in various amounts and tenors and may bear fixed, floating or variable rates of interest. Hybrid notes or zero-coupon notes also may be issued.

Proceeds will go to the trustee of CapitaCommercial Trust, which will then use the funds to refinance debt, to finance or refinance investments or for working capital.

DBS Bank Ltd. is the agent.

The company has applied for listing the notes on the Singapore Exchange Securities Trading Ltd., according to a press release.

CapitaCommercial Trust is a Singapore-based real estate investment trust.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.