CapitaMall closes fourth CMBS

Newest Singapore securitization continues love affair with Europe.

Capitamall Trust CMT, Singapore's first listed real estate investment trust REIT, closed its fourth commercial mortgage backed securitization CMBS on Friday October 21 via sole lead manager HSBC. The S$433 million $256 million seven-year deal was marketed to investors at 24bp to 25bp over Libor. The offering priced at the tight end of guidance at 24bp over.

The notes, rated AaaAAAAAA by Moody's, Fitch and Standard Poor's respectively, have a scheduled maturity of seven-years, and a finally maturity date of April 30, 2014. As was the case with the previous CMT deals, the latest offering will be issued off the group's S$1 billion secured medium term...

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