A subsidiary of office real estate investment trust CapitaLand Commercial Trust issued S$200.0 million of 3.327% notes due March 21, 2025, under its S$2.00 billion multicurrency medium-term note program.

The proceeds will be used for refinancing of existing borrowings or for general working capital purposes.

United Overseas Bank Ltd. is the sole lead manager and book runner.

As of March 20, US$1 was equivalent to S$1.32.