HSBC Institutional Trust Services (Singapore) Ltd., Cache Logistics Trust's trustee, established a S$1.00 billion multicurrency debt issuance program.
Under the program, the trustee may issue notes and perpetual securities in various amounts and tenors, subject to relevant laws, regulations and conditions agreed upon by HSBC Institutional, DBS Bank Ltd. as the sole arranger and dealer of the program, and ARA-CWT Trust Management (Cache) Ltd. as the manager of Cache Logistics.
The company noted that securities drawn from the program, which will be offered in Singapore as long as no exceptions are made, may bear fixed, floating, hybrid or variable interest rates or may not carry interest at all.
Net proceeds from each issue made under the program will be used for general corporate expenditures, which include refinancing of existing debt and funding investments.
As of Nov. 30, US$1 was equivalent to S$1.35.
