CICT says that the proceeds from the issue of the notes will be used to finance or refinance in whole or in part the eligible green projects undertaken by the group and in accordance with the CICT Green Finance Framework.
CICT highlights that the euro-medium term note contains a condition where it is in an event of default under the terms of the notes issued under the programme, if the manager is removed as the manager of CICT and the replacement is not appointed in accordance with the terms of the trust deed.
In the event of a default due to the condition being breached, the aggregate level of facilities, debt issues and borrowings of CICT and its subsidiaries which are outstanding and that may be affected is approximately $8,520 million (including the notes but excluding interest) as at March 28.
Units in CapitaLand Integrated Commercial Trustclosed flat at $2.10 on March 28.