STOCKS | Staff Reporter, Singapore

Mapletree Industrial Trust issues $300m for 3.15% perpetual securities

Net proceeds will be used for the Group's general corporate purposes.

Mapletree Industrial Trust Management Ltd. (MITM) has announced that DBS Trustee Limited executed a pricing supplement on 3 May, 2021 to issue $300m of 3.15% fixed rate perpetual securities.

MITM is the manager of Mapletree Industrial Trust (MIT), whilst DBS Trustee acted in its capacity as trustee of MIT.

The Perpetual Securities are assigned a rating of 'BBB' by Fitch Ratings, and are expected to be listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on or about 12 May 2021.

The application will be made to the SGX-ST for permission to deal in and the listing and quotation of the Series 002 Perpetual Securities on the SGX-ST.

According to the announcement, the net proceeds will be used by the Group for its general corporate purposes. This includes, but is not limited to, refinancing of exisiting debt.

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