Mapletree Logistics Trust issues inaugural US$74.5 million dim sum bond
The three-year bond bears a coupon of 2.1% per annum
Mapletree Logistics Trust (MLT) has issued its first dim sum bond, valued at US$74.5 million, in the offshore renminbi market. The three-year bond, with a coupon rate of 2.1% per annum, was priced by the trust’s manager and will be utilized for general corporate purposes, including refinancing existing borrowings. Fitch Ratings has assigned the bond a long-term rating of “BBB+”, aligning with MLT’s Long-Term Issuer Default Rating.
MLT’s CEO, Jean Kam, stated that the issuance allows the company to secure competitive financing, diversify its funding sources, and enhance financial flexibility. The issuance attracted strong interest from a diverse group of institutional investors, with HSBC acting as the sole lead manager. Dim sum bonds, named after Hong Kong's iconic small-plate cuisine, are yuan-denominated debt securities issued outside mainland China, typically in Hong Kong.
They provide international firms with a means to access Chinese currency without adhering to mainland financial regulations. Foreign issuance of dim sum bonds has experienced significant growth recently, reaching record levels in 2025 and growing by 128.6% year-on-year in the first quarter of 2026. MLT's issuance follows Singapore Airlines, which entered the offshore Chinese yuan debt market in June with a planned 1.5 billion yuan five-year dim sum bond.
Both MLT and Singapore Airlines join a growing number of global issuers seeking lower borrowing costs in China.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.