By Marisa Wong
Morgantown, W.Va., March 17 – AIMS AMP Capital Industrial REIT priced S$50 million of 3.6% five-year notes at par, trust manager AIMS AMP Capital Industrial REIT Management Ltd. announced.
This is the fourth tranche of notes to be issued under the trust’s S$500 million multicurrency medium-term note program established on July 25, 2012.
“The issuance will go a long way to extending our debt maturity profile on top of our recent S$100 million refinancing in August 2016. Following the issuance of the notes, the average debt maturity will increase from 2.1 years to approximately 2.5 years,” Kow Wee Lih, AIMS AMP Capital Industrial REIT Management’s chief executive officer, said in a press release.
Proceeds from the latest tranche will be used to partially repay the company’s revolving credit facility due in November 2017.
Settlement is slated for March 22.
AIMS AMP Capital owns 26 industrial properties in Singapore.
| Issuer: | AIMS AMP Capital Industrial REIT
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| Issue: | Fixed-rate notes
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| Amount: | S$50 million
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| Maturity: | March 22, 2022
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| Coupon: | 3.6%
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| Price: | Par
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| Yield: | 3.6%
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| Announcement date: | March 17
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| Settlement date: | March 22
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