Mapletree Investments prices S$625 million perpetual bonds at 4.5%

SINGAPORE - Property developer Mapletree Investments has launched and priced S$625 million perpetual bonds at a coupon of 4.5 per cent, under its US$5 billion euro medium-term note programme.

This is the first public Singdollar debt capital market transaction of 2017. It is also the first public Asian hybrid issuance of 2017.

Mapletree said it received orders worth over S$800 million with participation from about 60 high quality investors.

The perps, which will be issued in denominations of S$250,000, will be first callable at the issuer's option on Jan 19, 2022.

The bond proceeds will be used by the group for general corporate purposes.

DBS Bank and HSBC are joint lead managers for the transaction.