The manager of CapitaLand China Trust Management (CLCT) has issued $150 million fixed rate subordinated perpetual securities under the multicurrency debt issuance programme on Sept 19.
The listing of the perpetual securities on the SGX-ST will take place on Sept 22.
This is in relation to the announcement on Sept 10 by the manager on the pricing and offering of the perpetual securities, in which the rate of distribution is 3.95% per annum (p.a.) from Sept 19, 2025 to Sept 19, 2028, and for the period after will be at a rate equivalent to the three-year SORA-OIS which is 2.72% p.a.
CLCT says that the net proceeds from the issue of the perpetual securities will be used for general corporate and working capital purposes, investment or refinancing of existing borrowings of the issuer and or its subsidiaries.
The perpetual securities are being offered outside the United States and in Singapore to institutional investors and accredited investors.
Units in CLCT closed 0.5 cents higher or 0.645% up at 78 cents on Sept 19.
