Mapletree North Asia Commercial Trust has priced $250m of perpetual securities at 3.50%.
Mapltetree North Asia Commercial Trust (MNACT) has issued its first batch of perpetual securities through DBS, of $250m at 3.5% rate.
This is a part of MNACT’s US$1.5b Euro Medium Term Securities Programme, with an initial rate of distribution of 3.5% for the first five years.
In a bourse statement, MNACT Management CFO Ng Wah keong said the issunance was oversubscribed.
“This attests to investors’ confidence in the resilience of MNACT, which is underpinned by a diversified portfolio of quality assets,” Ng said.
Proceeds of the money raised will be used for general corporate purposes, including funding the acquisition of a freehold office building in Japan.
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