By Marisa Wong
Madison, Wis., Sept. 25 - Lippo Malls Indonesia Retail Trust said its wholly owned subsidiary, LMIRT Capital Pte. Ltd., priced S$150 million of 4¼% notes due 2016 under its S$750 million guaranteed euro medium-term note program established in June 2012.
The program is guaranteed by LMIRT Capital's direct parent company, HSBC Institutional Trust Services (Singapore) Ltd., which is also the trustee for the Lippo Malls trust.
Standard Chartered Bank is the arranger for the program and the dealer for the 4¼% notes.
"The successful issue of LMIRT's fourth bond issue will reflect the strong credit and confidence by bond investors in LMIRT's growth story as reflected by the competitive pricing inside LMIRT's yield curve amidst market volatility and competing issues," commented Alvin Cheng Yu Dong, chief executive officer of LMIRT Management Ltd., Lippo Malls Indonesia's manager, in a news release.
"The well-balanced spread of both institutional and private banking investors would enhance LMIRT's debt investor base which will provide us both the flexibility and confidence to fund our growth," Dong added.
Lippo Malls Indonesia is a Singapore-based real estate investment trust.
| Issuer: | LMIRT Capital Pte. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$150 million
|
| Maturity: | Oct. 4, 2016
|
| Coupon: | 4¼%
|
| Dealer: | Standard Chartered Bank
|
| Announcement date: | Sept. 25
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