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NOTES TO THE FINANCIAL STATEMENTS
C A M B R I D G E I N D U S T R I A L T R U S T
A N N U A L R E P O R T 2 0 1 5
9.
Interest-bearing borrowings (Cont’d)
(C)
Unsecured Medium Term Notes
On 2 February 2012, Cambridge Industrial Trust, through its wholly owned subsidiary, Cambridge-MTN
Pte. Ltd. (the “Issuer”), established a $500 million Multi-currency Medium Term Note Programme (the
“MTN Programme”). Under the MTN Programme, the Issuer may, subject to compliance with all relevant
laws, regulations, and directives, from time to time issue notes (the “Notes”) denominated in Singapore
dollars and/or any other currencies.
The payment of all amounts payable in respect of the Notes are unconditionally and irrevocably guaranteed
by RBC Investor Services Trust Singapore Limited (in its capacity as trustee of CIT) (the “Guarantor”).
The Notes may be issued in series having one or more issue dates and the same maturity date, and on
identical terms.
The Group issued the following notes under its MTN Programme:
•
$30 million 6-year Fixed Rate Notes issued in April 2014, bearing a fixed interest rate of 4.10% per
annum payable semi-annually in arrears which will mature in April 2020.
•
$155 million 4-year Fixed Rate Notes comprising Tranche 1 $100 million issued in November 2014
and Tranche 2 $55 million issued in January 2015, bearing a fixed interest rate of 3.50% per annum
payable semi-annually in arrears which will mature in November 2018.
•
$130 million 5-year Fixed Rate Notes issued in May 2015, bearing a fixed interest rate of 3.95% per
annum payable semi-annually in arrears which will mature in May 2020.
In March 2015, the Group made a redemption for the $50 million 3-year Fixed Rate Notes issued in March
2012. The Notes bore a fixed interest rate of 4.75% per annum payable semi-annually in arrears and
matured in March 2015.
The Issuer has on-lent the net proceeds from the issuance of the Notes to the Trust, which in turn, had
used such proceeds to finance property acquisitions and/or repayment of existing loans.
