MAPLETREE Investments is selling perpetual bonds on Thursday, the first Singapore dollar bond issue for 2017.
The initial price guidance for the perpetual bonds is in the 4.7 per cent area, according to a termsheet seen by The Business Times. Mapletree Investments is 100 per cent Temasek owned.
The perpetual bonds are NC5 which means that they would not be called or redeemed before year 5, or January 2022.
Another feature of the issue is that the coupon will have a 100 basis points step-up and reset from year 10.
The first update to the sale around 11 am was that orders have crossed over S$250 million.