NOTES TO THE FINANCIAL STATEMENTS
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Subsequent events
(i)
Notes issuance
In January 2015, the Group issued $55 million 4-year Fixed Rate Notes under the MTN Programme, at
a fixed interest rate of 3.50% per annum payable semi-annually in arrears. These notes were issued and
consolidated to form a single series (Series 003 Tranche 002 Notes) with the existing $100 million 3.5%
per annum Fixed Rate Notes Due 2018 issued by the Group in November 2014.
The net proceeds arising from this issue have been on-lent to CIT for the purpose of refinancing the
existing $50 million 3-year Fixed Rate Notes maturing in March 2015.
(ii)
Acquisition of property
On 17 February 2015, CIT entered into a sale and purchase agreement with a vendor to acquire a property
at 160A Gul Circle, Singapore 629635 for a purchase consideration of $19.9 million (including estimated
upfront land premiumof $3.3 million payable to JTC), financed by cash on hand and existing debt facilities.
CAMBRIDGE INDUSTRIAL TRUST | A WINNING FORMULA
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