The proceeds arising from the notes issuance will be used towards refinancing the trust’s existing borrowings.
The notes are expected to be assigned a rating of ‘BBB+’ by Fitch Ratings, the same rating as MIT’s long-term Issuer Default Rating (IDR), and to be issued on Feb 16.
Units in MIT closed 3 cents lower or 1.25% down at $2.38 on Feb 8.
