By Marisa Wong
Morgantown, W.Va., May 16 – Mapletree Logistics Trust announced that trustee HSBC Institutional Trust Services (Singapore) Ltd. has priced S$250 million of fixed-rate perpetual securities.
The distribution rate will be 4.18% initially. The first distribution rate reset date will be Nov. 25, 2021, and subsequent resets will occur every five years after that.
The notes will be callable in whole on Nov. 25, 2021 and any semiannual distribution payment date after that.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the joint lead managers and bookrunners.
Proceeds will be used for general corporate purposes.
The notes are expected to be issued on May 25.
Mapletree Logistics is a Singapore-based logistics real estate investment trust.
| Issuer: | HSBC Institutional Trust Services (Singapore) Ltd. (for Mapletree Logistics Trust)
|
| Issue: | Fixed-rate perpetual securities
|
| Amount: | S$250 million
|
| Maturity: | Perpetual
|
| Bookrunners: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 4.18% initially, reset Nov. 25, 2021 and every five years after that
|
| Call option: | In whole on Nov. 25, 2021 and any semiannual distribution payment date after that
|
| Announcement date: | May 16
|
| Settlement date: | May 25
|
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