Mapletree Logistics Trust (SGX:M44U) priced its inaugural offshore Renminbi bond issue of 500 million yuan, with the three-year bond carrying a 2.1% annual coupon, according to a Singapore Exchange filing on Tuesday.
Fitch Ratings assigned the bond a BBB+ rating, which was in accordance with Mapletree Logistics Trust's issuer default rating. Net proceeds from the issuance will be used for general corporate purposes, including refinancing existing borrowings.
HSBC was the sole lead manager for the transaction.
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