The offer was 2.5 times subscribed and about 75% of the offer was placed to institutional investors. The gearing of ESR-REIT will remain unchanged pre-and-post transaction.
ESR-REIT has launched and priced $100.0 million unsecured fixed rate notes at 4.05% per annum (p.a.) due 2030, as part of its capital management strategy.
The offer will be issued under the $750 million Multicurrency Debt Issuance Programme with proceeds going towards the refinancing or repayment of existing borrowings, financing or refinancing acquisitions, investments, developments and/or asset enhancement works; and financing of general working capital and capital expenditure requirements.
