MapleTree Logistics Trust issues 9b yen 10-year fixed-rate notes

Mapletree Logistics Trust (MLT) has issued 9 billion yen 10-year fixed-rate notes to a long-term financial investor.

The bonds were priced at a fixed interest rate of 2.71 per cent and were issued out of the trust’s S$1 billion multi-currency medium-term note programme.

The bonds mature in December 2021.

MLT said the issuance in the current financial environment underscores its strong credit standing and ready access to the debt capital market.

The proceeds from the note issuance will be applied towards the refinancing of its Japanese yen loans.

Post refinancing, the proportion of MLT’s debt due in 2012 is reduced to about 7 per cent of total debt.

Credit rating agency Moody’s has assigned a Baa1 rating to MLT’s yen note issue.

Source : Channel NewsAsia – 21 Dec 2011

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