Global Switch buys A$86.62 million 6.25% notes in two-week tender

By Susanna Moon

Chicago, Sept. 8 – Global Switch Holdings Ltd. said Global Switch Property (Australia) Pty Ltd. accepted tenders for A$86.62 million of its A$100 million 6.25% notes due Dec. 23, 2020.

The clean cash price was set at A$109.994 using SQ coupon matched ASW plus 100 basis points for a yield of 3.033%, according to a company update on Friday.

Pricing was set at 9 p.m. ET on Sept. 5.

Holders also will receive accrued interest of A$131.50 per A$10,000 principal amount.

After settlement on Friday, there will be A$13.38 million of the notes left outstanding.

Global Switch was tendering for the notes from Aug. 22 until 10 p.m. ET on Sept. 4.

Commonwealth Bank of Australia and Deutsche Bank AG, Sydney Branch are the dealer managers. Commonwealth Bank of Australia is the tender manager.

Global Switch is a London-based company that develops, owns and operates real estate properties in Europe and the Asia Pacific.

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