October 13 – CapitaLand China Trust (CLCT) has priced its inaugural CNY600 million (S$112 million) free trade zone offshore CNY bonds due 2026, its manager said.
This transaction marks CLCT’s first issuance of bonds denominated in CNY within the China (Shanghai) Pilot Free Trade Zone. The Bonds have a tenor of three years with a coupon rate of 3.80 per cent per annum, payable annually in arrears. The bonds will be listed and traded on the SGX-ST. Net proceeds from the offering of the Bonds will be on-lent to CLCT to refinance its existing indebtedness and to meet working capital requirements outside China.
