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CAPITALAND India Trust’s (Clint) trustee-manager announced on Thursday (Aug 22) that it has priced S$150 million notes at 3.7 per cent per annum.
The interest on the notes, which are due in 2027, will be payable semi-annually in arrear. The notes are expected to be rated “BBB-” by Fitch Ratings.
The trustee-manager added that DBS has been appointed as sole global coordinator and sole ratings adviser, while DBS and UOB have been appointed as joint lead managers for the notes.
The net proceeds from the issue of the notes will be used to refinance existing borrowings or repay loans and finance the business activities, acquisitions and general working capital of Clint, it said.
The notes are expected to be issued on Aug 30 and listed on the Singapore Exchange on Sep 2.
Units of Clint closed at S$1.08, down 0.9 per cent or S$0.01 on Thursday, before the announcement was made.
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