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CapitaLand Mall Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
1 Amounts include foreign currency denominated notes which have been swapped into Singapore dollars.
CMT Group – Loan Maturity Profile
1
S$ million
%
After 1 year but within 5 years
1,657.8
51.0
After 5 years
1,593.2
49.0
3,251.0
100.0
In summary, the total borrowings of CMT Group as
at 31 December 2015 were S$3,251.0 million and
aggregate leverage at 35.4%. Average cost of debt
was lower at 3.3% as at 31 December 2015 compared
to 3.5% as at 31 December 2014.
As at 31 December 2015, CMT Group does not
have any refinancing due in 2016. The manager of
CMT (Manager) will continue to adopt a rigorous and
focused approach to capital management.
The Manager is also committed to diversifying funding
sources and will continue to review its debt profile to
reduce refinancing risk and extend the debt maturity
profile.
CMT’s 40.00% interest in RCS Trust and 30.00%
interest of Infinity Mall Trust (IMT)
CMT has a 40.00% i n te r es t i n RCS Tr us t.
Under the loan agreements between Silver Oak
Ltd. (Silver Oak) and RCS Trust Trustee-Manager,
Silver Oak has granted RCS Trust a term loan facility
of S$1.0 billion and a revolving credit facility (RCF)
of S$300.0 million. RCS Trust has drawn down the
S$1.0 billion term loan in 2011 and as at 31 December
2015, S$44.0 million has been drawn down from the
RCF. CMT’s 40.00% share thereof is S$417.6 million.
The Manager is working with the manager of
CapitaLand Commercial Trust to refinance the term
loan and RCF due on 21 June 2016.
CMT has a 30.00% interest in IMT. In June 2015,
IMT entered into a new secured term loan facility
of S$540.0 million and a RCF of S$20.0 million.
On 9 October 2015, IMT fully repaid its term loan and
RCF amounting to S$618.6 million using unitholders’
loan of S$78.6 million and the new secured term
loan facility of S$540.0 million. As at 31 December
2015, CMT’s 30.00% share on the term loan is
S$162.0 million.
Financials &
Additional
Information
