Mapletree Logistics prices $400m perpetual securities to refinance existing securities

These are expected to be issued on 12 August 2026.

Mapletree Logistics Trust (MLT)has announced the issuance of $400m in 3.50% subordinated perpetual securities after executing a pricing supplement on 4 August.

According to the company, the issuance is the 15th under MLT's $3b Euro Medium Term Securities Programme. Net proceeds will be used for general corporate and working capital purposes, including refinancing MLT's existing $400m perpetual securities.

The securities carry a fixed coupon of 3.50% per annum until the first reset date on 12 August 2031, after which the rate resets to the five-year Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate plus a spread of 1.439%.

Distributions will be paid semi-annually on 12 February and 12 August, starting 12 February 2027, and are non-cumulative, meaning MLT can defer payments without obligation to make them up later.

They have no fixed maturity but can be redeemed at the issuer's option from 12 August 2031 onward, on any subsequent distribution payment date.

The securities are expected to be issued on 12 August 2026 and listed on the SGX-ST on or about 13 August 2026. They will be offered only to institutional and accredited investors under Singapore's Securities and Futures Act.

DBS Bank and OCBC are joint lead managers and bookrunners.

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