SINGAPORE - Mapletree Investments' wholly-owned subsidiary, Mapletree Treasury Services, has launched and priced $700 million of 3.95 per cent perpetual securities.

This is the largest Singdollar-denominated perpetual issuance this year.

Mapletree said it received orders worth over $1.9 billion - a subscription rate of 2.7 times - with participation from more than 70 investors.

The securities will be issued in denominations of $250,000 and will confer the right to receive distribution payments at a rate of 3.95 per cent per annum.

Proceeds from the offering will be used to redeem Mapletree's outstanding $600 million 5.125 per cent perpetual securities on its first call date of July 25 as well as for other general corporate purposes.

DBS Bank, HSBC and OCBC are joint lead managers for the offering.