Mapletree Logistics Trust prices first $94.2m offshore renminbi bond

Three-year bond carries a 2.1% coupon, with proceeds partly used to refinance debt.

Mapletree Logistics Trust (MLT) has priced its inaugural offshore renminbi bond issuance at $94.2m (CNY500m) under its $3b Euro Medium Term Securities Programme.

The net proceeds will be used for general corporate purposes, including refinancing existing borrowings, the trust said in a bourse filing.

The three-year bond carries a 2.1% annual coupon.

Jean Kam, CEO of Mapletree Logistics Trust Management, said the issuance would allow the trust to diversify its funding sources and investor base.

“The issuance enhances our financial flexibility and supports our ongoing efforts to optimise our capital structure and deliver long-term returns to Unitholders,” Kam added.

The Hongkong and Shanghai Banking Corporation Limited acted as the sole lead manager for the transaction.

$1 = $5.31

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Mapletree Logistics Trust

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