ISSUER: Mapletree Commercial Trust Treasury Company Pte Ltd
GUARANTOR: DBS Trustee Limited (in its capacity as trustee of MCT)
ISSUE RATING: Expected to be Baa2 by Moody’s
STATUS: Senior, Unsecured
FORMAT: RegS, Bearer, S274 & S275 of Singapore SFA
ISSUE SIZE: TBD
TENOR: 5 Years
COUPON: 2.70% area, semi-annual, actual/365 (fixed)
DENOMS: SGD 250,000
LISTING: Application will be made to be listed on SGX-ST
LAW: Singapore Law
DOCUMENTATION: Off Issuer’s SGD 1bn MTN Programme
5 year interest rate 1.67%.
Coupon is 2.7%. Dividend is 5.57%.
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Cambridge Trust BBB- 3.5% 11/2018 (4 year), was priced at 3.5% yesterday and is dealing at 100/100.50 (3.43%) today.
And the new S-Reit ruling is credit positive, yes. Therefore Vivocity will get a $5.5 mio partial renovation later this year.
Oct. 24 (Straits Times) — SINGAPORE – Part of the basement of the VivoCity shopping mall at Harbourfront is set to undergo a $5.5 million renovation later this year, its owner said on Friday.
Mapletree Commercial Trust (MCT) said in a statement that it plans to create about 15,000 square feet of new retail space at VivoCity’s basement 1 level, which is directly linked to the Harbourfront MRT station.
It does not mean fund managers should be holding their breath for 2.7%. Not after the FOMC last night, for sure.
This article was published on www.tradehaven.net, and is republished with permission.