By Marisa Wong
Madison, Wis., March 11 – Mapletree Commercial Trust Management Ltd., manager of Mapletree Commercial Trust, announced that subsidiary Mapletree Commercial Trust Treasury Co. Pte. Ltd. priced ¥8.7 billion of floating-rate notes due 2023 at par on Wednesday.
The interest rate is equal to Japanese yen Libor plus 30 basis points.
The notes (Baa1) will be issued on Monday under the company’s S$1 billion multicurrency medium-term note program established on Aug. 8, 2012.
DBS Bank Ltd. is the manager for the issue.
The company said it entered into swap transactions to exchange the yen proceeds of the notes into Singapore dollar proceeds of S$100 million.
Proceeds will be used to refinance existing borrowings.
The notes are guaranteed by DBS Trustee Ltd., the trustee of Mapletree Commercial Trust.
Mapletree is a Singapore-based real estate investment trust.
| Issuer: | Mapletree Commercial Trust Treasury Co. Pte. Ltd.
|
| Guarantor: | DBS Trustee Ltd.
|
| Issue: | Floating-rate notes
|
| Amount: | ¥8.7 billion
|
| Maturity: | March 16, 2023
|
| Coupon: | Yen Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Yen Libor plus 30 bps
|
| Manager: | DBS Bank Ltd.
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Rating: | Moody’s: Baa1
|
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