CapitaLand India Trust prices S$100 million perpetual securities at 4.4%

The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme

CapitaLand India Trust (Clint) has priced S$100 million worth of subordinated perpetual securities, with a fixed rate of 4.4 per cent per annum, the trustee-manager said on Wednesday (Jun 25).

The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme.

The perpetual securities will be issued in denominations of S$250,000 with no fixed final redemption date, at an issue price of 100 per cent of the principal amount, the manager said.

They are expected to be issued on Jul 2, 2025, and listed on the Singapore Exchange on or around Jul 3, 2025.

Holders of the perpetual securities will have the right to receive distributions at fixed rates of 4.4 per cent per annum from Jul 2, 2025, up till the day before the first reset day on Jul 2, 2030.

The manager said that Clint may redeem all of the perpetual securities at the redemption amount on the first reset date or any distribution payment date following that. In the event of a redemption, Clint will give perpetual securityholders a notice of minimally 30 days but not more than 60 days.

Net proceeds from the issuance will be used to refinance existing borrowings or repay loans. It will also be used to finance business activities, acquisitions and general working capital of Clint.

Units of Clint ended on Wednesday 3 per cent or S$0.03 higher at S$1.03.

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