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Mapletree Industrial Trust prices inaugural $300 mil perpetual securities at 3.15%

Atiqah Mokhtar
Atiqah Mokhtar5/4/2021 8:7 AM GMT+08  • 2 min read
Mapletree Industrial Trust prices inaugural $300 mil perpetual securities at 3.15%
Proceeds will be used for general corporate purposes, including refinancing of existing debt.
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The manager of Mapletree Industrial Trust (MINT) has announced that DBS Trustee, in its capacity as trustee for MINT, has priced $300 million of perpetual securities at 3.15% under MINT's $2 billion Euro Medium Term Securities programme.

The securities will bear an initial rate of distribution of 3.15% per annum for the first five years, following which the distribution will reset on May 11, 2026, with subsequent resets every five years thereafter.

Fitch Ratings has assigned the securities a ‘BBB-’ rating.

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