By Marisa Wong
Morgantown, W.Va., March 6 – Mapletree North Asia Commercial Trust announced that Mapletree North Asia Commercial Treasury Co. (HKSAR) Ltd. priced HK$580 million of 3.65% eight-year notes at par on Wednesday.
The notes (Baa1) are guaranteed by DBS Trustee Ltd., the trustee of Mapletree North Asia Commercial Trust.
Oversea-Chinese Banking Corp. Ltd. is the manager for the issue.
The notes will be issued on March 11 under the company’s $1.5 billion euro medium-term securities program.
The issuer said it has entered into a swap transaction to swap the Hong Kong dollar fixed interest rate into a Japanese yen fixed interest rate.
Proceeds will be used to refinance existing borrowings.
Mapletree is a Singapore-based real estate investment trust.
| Issuer: | Mapletree North Asia Commercial Treasury Co. (HKSAR) Ltd.
|
| Guarantor: | DBS Trustee Ltd.
|
| Issue: | Fixed-rate medium-term notes
|
| Amount: | HK$580 million
|
| Maturity: | March 11, 2027
|
| Manager: | Oversea-Chinese Banking Corp. Ltd.
|
| Coupon: | 3.65%
|
| Price: | Par
|
| Yield: | 3.65%
|
| Pricing date: | March 6
|
| Settlement date: | March 11
|
| Rating: | Moody’s: Baa1
|
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