They will be issued under the S$6 billion euro medium-term note programme established by CLI Treasury in 2021
CAPITALAND Investment (CLI) on Thursday (Aug 15) announced its wholly-owned unit CLI Treasury Limited has priced the offering of S$350 million worth of senior notes due 2035 at a fixed rate of 3.58 per cent.
The notes will be issued under the S$6 billion euro medium-term note programme established by CLI Treasury on Nov 9, 2021.
The payment obligations of the issuer under the notes will be unconditionally and irrevocably guaranteed by CLI, said the real estate investment arm of property developer CapitaLand.
The issue date of the notes is expected to be Aug 22. The maturity date is 10.5 years from the issue date.
The net proceeds from the issue will be used to refinance existing borrowings and finance the investments and general corporate purposes of CLI and CLI Treasury.
UOB has been appointed as the sole lead manager and bookrunner for the notes issue.
Shares of CLI ended Thursday at S$2.51, up 0.8 per cent or S$0.02, before the announcement.
