The manager of Mapletree Pan Asia Commercial Trust (MPACT) has priced $200 million fixed rate senior green notes due 2032 at 2.45% per annum (p.a.).
This is part of the REIT’s $5 billion Euro Medium Term Securities Programme, which was established on Sept 27, 2022.
Moody’s Investors Service has assigned a Baa2 rating to the notes, the same as MPACT’s long-term issuer rating. DBS and Oversea-Chinese Banking Corporation (OCBC) have been appointed as joint lead managers and joint bookrunners for the issue of the notes.
The proceeds from the issue of the notes will be used by MPACT and its subsidiaries to finance or refinance, in whole or in part, eligible green projects in accordance with MPACT’s green finance framework.
In the event a debt facilities event occurs, this may in turn constitute a notes event, in which the aggregate level of the outstanding notes and existing outstanding borrowings of MPACT that may be affected as a result of the events is about $5.89 billion.
Units in MPACT closed flat at $1.32 on Aug 5.
