Capitaland issues $500m 3.80% fixed rate notes due 2024

It’s under the $5b Euro Medium Term Note Programme.

CapitaLand Limited today revealed that its wholly-owned subsidiary CapitaLand Treasury Limited has priced the offering of S$500,000,000 3.80% fixed rate notes due 2024.

The notes will be issued under the S$5,000,000,000 Euro Medium Term Note Programme, which was first established on 3 August 2012 and updated on 2 September 2013.

“The issue date of the Notes is currently expected to be on 28 August 2014. The net proceeds arising from the issue of the Notes (after deducting issue expenses) will be used for refinancing existing borrowings, financing the investments and general corporate purposes of CapitaLand and the Issuer,” noted a release from CapitaLand.

Here’s more from CapitaLand:

The payment obligations of the Issuer under the Notes will be unconditionally and irrevocably guaranteed by CapitaLand.

DBS Bank Ltd. and The Hongkong and Shanghai Banking Corporation Limited have been appointed as the joint bookrunners and lead managers for the issue of the Notes.

The principal terms of the Notes are as follows:
Issue size: S$500,000,000
Issue Price: 100% of the principal amount of the Notes
Interest: 3.80% per annum
Maturity Date: 10 years from the date of issue

Application will be made to the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for permission to deal in and for the listing and quotation of the Notes on the SGX-ST.

Such permission will be granted when the Notes have been admitted to the Official List of the SGX-ST. Admission to the Official List of the SGX-ST and quotation of the Notes on the SGX-ST is not to be taken as an indication of the
merits of CapitaLand, its subsidiaries (including the Issuer), the EMTN Programme or the Notes.

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