Singapore's Croesus Retail launches $500 million euro MTN program

By Marisa Wong

Madison, Wis., Jan. 3 - Croesus Retail Trust's trustee-manager, Croesus Retail Asset Management Pte. Ltd., announced it established a $500 million euro medium-term note program on Friday.

DBS Bank Ltd. and United Overseas Bank Ltd. are the arrangers and dealers of the program.

Proceeds will be used for financing or refinancing acquisitions and investments, financing property development and refinancing existing borrowings, as well as for general corporate purposes.

The retail business trust is based in Singapore with an initial portfolio located in Japan.

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