CapitaMalls Asia issues S$350 million worth of notes

Net proceeds of the notes will be used to finance investments of CapitaMalls Asia and CapitaMalls Asia Treasury.

CapitaMalls Asia Treasury Limited announces on Thursday that it has priced an issue of S$350 million 3.95% unrated fixed rate notes. The notes will mature on 24 August 2017, and the interest on the notes is payable half-yearly in arrears.

In an announcement, CapitaMalls Asia said the notes is the first in the series of notes issued under a S$2 billion Euro-Medium Term Note Programme established by CapitaMalls Asia Treasury on 12 April 2010.

The net proceeds from the issue of the notes will be used to finance the investments and general corporate purposes of both CapitaMalls Asia and CapitaMalls Asia Treasury.

Mr Lim Beng Chee, CEO of CapitaMalls Asia, said, “We are pleased with investors’ positive response and strong take-up rate as we price the first series of notes under our Euro-Medium Term Note Programme. This programme is part of our proactive capital management strategy to diversify our sources of funding by tapping into the bond market. This series of notes further strengthens our balance sheet and financial capacity for acquisitions, and positions us well to achieve our target to invest between S$800 million and S$1 billion in new projects by the end of this year.”