By Marisa Wong
Los Angeles, Nov. 5 – AIMS APAC REIT (AA REIT) priced S$100 million of 3.6% five-year notes at par, according to an announcement by trust manager AIMS APAC REIT Management Ltd.
The notes will be issued through trustee HSBC Institutional Trust Services (Singapore) Ltd.
This is the first series of notes to be issued under AA REIT’s S$750 million multicurrency debt program.
Standard Chartered Bank and United Overseas Bank Ltd. are joint lead managers and joint bookrunners for the series 001 notes.
Proceeds will be used for general corporate purposes, including financing general working capital, capital expenditure and investments and refinancing existing borrowings.
Following the issuance of the notes, AA REIT’s weighted average debt maturity will increase to roughly 2.9 years from 2.3 years on a pro forma basis.
Formerly AIMS AMP Capital Industrial REIT, AIMS APAC owns industrial properties in Singapore and Australia.
| Issuer: | HSBC Institutional Trust Services (Singapore) Ltd. (for AIMS APAC REIT)
|
| Issue: | Fixed-rate notes, series 001
|
| Amount: | S$100 million
|
| Maturity: | Nov. 12, 2024
|
| Bookrunners: | Standard Chartered Bank and United Overseas Bank Ltd.
|
| Coupon: | 3.6%
|
| Price: | Par
|
| Yield: | 3.6%
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 12
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
