CapitaMalls Asia prices S$350m unrated fixed rate notes at 3.95%

CapitaMalls Asia has priced an issue of S$350 million unrated fixed rate notes at 3.95 per cent.

The notes will mature on August 24, 2017, and the interest on the notes is payable half-yearly in arrears.

This is the first series of notes issued under a S$2 billion Euro-Medium Term Note Programme established by CapitaMalls Asia Treasury in April this year.

Under the programme, CapitaMalls Asia Treasury may, from time to time, issue notes in series or tranches in Singapore dollars, United States dollars, Euros or Sterling.

Subject to legal or regulatory requirements, it may also issue notes in any other currency.

The net proceeds will be used to finance the investments and general corporate purposes of both CapitaMalls Asia and CapitaMalls Asia Treasury.

CapitaMalls Asia CEO Lim Beng Chee said the notes would position the firm to achieve its target to invest between S$800 million and S$1 billion in new projects by the end of this year.

Source : Channel NewsAsia – 12 Aug 2010

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