CapitaLand India Trust (CLINT) has issued $100 million perpetual securities at a 4.4% fixed rate under its $1.5 billion multicurrency debt issuance programme on July 2.
The trust announced the pricing of the perpetual securities on June 26, and said that net proceeds will be used to refinance existing borrowings, repay loans and finance business activities, acquisitions and its general working capital.
DBS, UOB, JP Morgan Securities Asia and Deutsche Bank are the joint lead managers for the issuance.
The perpetual securities will be issued in denominations of S$250,000 at an issue price of 100% of the principal amount, and the perpetual security holders will receive distributions at a fixed rate of 4.4% per annum from the expected issue date up till, but excluding, the first reset day on Jul 2, 2030.
Subsequently, they will receive distributions at a per-annum fixed rate equal to the five-year Singapore Overnight Rate Average Overnight Indexed Swap, according to the relevant reset date.
Units in CapitaLand India Trust closed flat at $1.06 on July 2.
