By Toni Weeks
San Luis Obispo, Calif., June 15 – Lippo Malls Indonesia Retail Trust said its wholly owned subsidiary, LMIRT Capital Pte. Ltd., priced S$75 million of 4.1% notes due 2020 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.
Oversea-Chinese Banking Corp. and Standard Chartered Bank are the joint bookrunners.
"Subsequent to receiving a Baa3 rating from Moody’s last week, we are delighted that we are able to capitalize on the increased confidence from the investors to achieve such favorable terms for the notes," commented Alvin Cheng Yu Dong, chief executive officer of LMIRT Management Ltd., Lippo Malls Indonesia's manager, in a news release.
"At the same time, with a well-balanced spread of both institutional and private banking investors in this five-year bond issue, we have further enhanced LMIRT’s debt investor base," Dong added.
Lippo Malls Indonesia is a Singapore-based real estate investment trust.
| Issuer: | LMIRT Capital Pte. Ltd.
|
| 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: | June 22, 2020
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| Coupon: | 4.1%
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| Bookrunners: | Oversea-Chinese Banking Corp. and Standard Chartered Bank
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| Announcement date: | June 15
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