The manager of Mapletree Industrial Trust ME8U (MIT) ME8U has issued $50 million worth of fixed-rate notes due 2027.
The notes will carry a coupon of 3.751% per annum (p.a.) and will be issued under MIT’s Euro medium term securities programme.
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.
