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Bond Market News
Mapletree Planning $1bn IPO of Student Housing REIT: Sources
March 7, 2022
Singapore-based real estate company Mapletree is said to be planning an IPO for its student housing REIT that could raise up to $1bn, as per Business Times sources. The Temasek-backed company is said to have hired DBS, HSBC, OCBC and UBS for the proposed transaction that could hit the markets in the second half of the year, the sources added. If the IPO goes through, it would be the largest REIT listing in Singapore since 2013. The assets that are expected to back the REIT are Mapletree’s 51 student accommodation facilities with over 22,000 beds across 34 cities in the UK, US and Canada that are worth about S$3.7bn ($2.7bn).
Mapletree’s SGD 3.15% 2031s traded steady at 99.49 to yield 3.21%.
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