Mapletree Logistics Trust Management Ltd. announced on Aug, 04 2026 that trustee HSBC Institutional Trust Services (Singapore) Ltd. has executed a pricing supplement to issue 400 million Singapore dollars of 3.50% fixed-rate subordinated perpetual securities under its 3 billion Singapore dollars Euro Medium Term Securities Programme.
The securities, designated as Series 015, will be offered at 100% of their principal value and are expected to be issued on Aug, 12 2026. They carry a 3.50% distribution rate until Aug, 12 2031, after which the rate will reset every five years to the prevailing five-year Singapore Overnight Rate Average Overnight Indexed Swap rate plus 1.439%.
The notes are perpetual, non-cumulative and may be redeemed by the issuer on Aug, 12 2031 and on any subsequent distribution payment date. Fitch has assigned a BBB- rating to the securities.
Net proceeds will be used for general corporate and working-capital purposes, including the refinancing of the issuer’s outstanding 400 million Singapore dollars fixed-rate subordinated perpetual securities.
DBS Bank Ltd. and Oversea-Chinese Banking Corporation Ltd. are joint lead managers and bookrunners. The securities are expected to be listed on the Singapore Exchange on or about Aug, 13 2026.