ISSUER: Mapletree Commercial Trust Treasury Company Pte Ltd GUARANTOR: DBS Trustee Limited (in its capacity as trustee of MCT) ISSUE RATING: Expected to be Baa2 by Moody’s STATUS: Senior, Unsecured FORMAT: RegS, Bearer, S274 & S275 of Singapore SFA ISSUE SIZE: TBD TENOR: 5 Years COUPON: 2.70% area, semi-annual, actual/365 (fixed) DENOMS: SGD 250,000 CLEARING: CDP LISTING: Application will be made to be listed on SGX-ST LAW: Singapore Law DOCUMENTATION: Off Issuer’s SGD 1bn MTN Programme 5 year interest rate 1.67%. Coupon is 2.7%. Dividend is 5.57%. Cambridge Trust BBB- 3.5% 11/2018 (4 year), was priced at 3.5% yesterday and is dealing at 100/100.50 (3.43%) today. It could be that the MAS has decided to reduce the number of bond auctions next year to 7 (from 9) and throw in some “surprise” mini auctions in between. And the new S-Reit ruling ......