CapitaLand unit prices S$800m 10-year notes at 3.15% , Banking & Finance

Fri, Aug 23, 2019 – 1:47 PM

A UNIT of CapitaLand has closed the order book for S$800 million of 10-year notes, with the order book recording about S$1.4 billion from over 65 accounts which will be good at reoffer, sole global coordinator DBS said on Friday.

The senior unsecured notes, issued by subsidiary CapitaLand Treasury, carry a coupon of 3.15 per cent per annum, 144 basis points above the 10-year swap offer rate.

They are unrated and to be sold at 100 per cent of the principal amount, with the maturity date falling on Aug 29, 2029.

According to DBS, 54 per cent of the offering went to insurers and fund managers, 30 per cent went to banks and agencies, and private banks and corporations took up 16 per cent of the offering. By geography, 96 per cent of the offering went to Singapore investors and the rest to investors from other countries.

Proceeds from the issue will go into refinancing of existing borrowings, financing of investments and for general corporate purposes.

The joint bookrunners for the issue are DBS and UOB.

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