CapitaMall Trust CMT, the first listed real estate investment trust REIT in Singapore, closed its second commercial mortgage backed securitization yesterday Thursday via HypoVereinsbank.
The S$349 million $199.5 million deal comprises $72 million of US dollar denominated notes, a S$172 million bond issue and a S$52 million revolving credit facility.
The transaction will help CMT finance its acquisition of the IMM Building from International Merchandise Mart. The building, which features a mix of retail, office and warehouse space, was recently valued at S$280 million. Earlier this month CMT raised S$128.2 million from a new share issue to help towards the acquisition.
As was the case with...