By Marisa Wong
Morgantown, W.Va., March 18 – Mapletree Industrial Trust priced S$125 million of 3.58% fixed-rate notes due 2029 at par on Monday.
The notes (//BBB+) will be issued through Mapletree Industrial Trust Treasury Co. Pte. Ltd., a wholly owned subsidiary of DBS Trustee Ltd., which is the trustee of Mapletree Industrial Trust. DBS Trustee is the guarantor.
Proceeds will be used to refinance existing borrowings.
The notes will be issued under the trust’s S$2 billion euro medium-term securities program established on Sept. 5, 2018. DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the arrangers and dealers for the program.
Mapletree Industrial is a Singapore-based industrial real estate investment trust.
Issuer: | Mapletree Industrial Trust Treasury Co. Pte. Ltd.
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Guarantor: | DBS Trustee Ltd.
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Issue: | Fixed-rate medium-term notes
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Amount: | S$125 million
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Maturity: | March 26, 2029
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Coupon: | 3.58%
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Price: | Par
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Yield: | 3.58%
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Pricing date: | March 18
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Settlement date: | March 26
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Rating: | Fitch: BBB+
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