CICT issues $300m green notes at 2.25%

Funds will support eligible green projects.

CapitaLand Integrated Commercial Trust (CICT) has issued $300m 2.25% fixed-rate notes due 27 September 2032 through its wholly-owned subsidiary CMT MTN Pte. Ltd.

The notes, carrying an annual coupon of 2.25% payable semi-annually, were issued under CICT’s US$7b Euro-Medium Term Note (EMTN) Programme, which was last updated on 18 June 2025.

The issue is unconditionally and irrevocably guaranteed by HSBC Institutional Trust Services (Singapore) Limited in its capacity as trustee of CICT.

The notes have received an “A3” rating from Moody’s, though the rating agency noted that it is not a recommendation to buy, sell or hold the securities and may be revised or withdrawn at any time.

Proceeds will be used to finance or refinance eligible green projects under the CICT Green Finance Framework.

The notes are expected to start trading on the Singapore Exchange (SGX) around 26 September 2025, following SGX’s approval-in-principle.

The EMTN Programme includes a clause that triggers an event of default if the manager is removed and no approved replacement is appointed. A breach could affect up to $9.41b of CICT’s outstanding debt.

The manager confirmed that no breach of this condition has occurred to date.

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