27 Aug 2014

​Link REIT Issues Debut US$500M 10-Year Notes

The Link Real Estate Investment Trust (Hong Kong stock code: 823) has successfully priced the US$500 million 3.60% fixed rate Notes due 2024. The Notes have been rated “A2” and “A” by Moody’s and S&P’s respectively.
Australia and New Zealand Banking Group Limited, DBS Bank Ltd., and The Hongkong and Shanghai Banking Corporation Limited acted as Managers in the issue of the Notes.
The proceeds from the issue will be used for general corporate funding requirements including refinancing of existing debt and supporting new investment opportunities.
Application will be made to list the Notes on The Stock Exchange of Hong Kong Limited.
George Hongchoy, Chief Executive Officer of The Link Management Limited, said, “We are delighted that our debut issue was well accepted by the market. It is a testimony to our commitment in improving The Link REIT’s business and financial performance.  The Notes received strong demand from international institutional investors and banks.  They were priced at an attractive price equivalent to 10-Year US treasury yield plus 1.30%. The Notes have not only broadened the funding source of The Link REIT, but also strengthened the group’s liquidity position and improved protection against potential interest rate increase.”
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