12 Jan 2022

US$600 million 10-year Notes Priced at 2.75% Coupon

  • US$600M 10-year notes priced at coupon of 2.75% after over-subscription
  • Further support Link’s pursuit of Vision 2025 and growth plans


Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT; Hong Kong stock code: 823), announced today (Wednesday) that it has successfully priced the US$600 million senior notes (the Notes) with 10-year maturity, due 2032, at coupon rate of 2.75%. The Notes will start trading on the Stock Exchange of Hong Kong Limited on 20 January.

This transaction marks the largest US dollar bond offering in size with the lowest coupon rate in US dollar bond issue raised by Link to date.

George Hongchoy, Link’s Chief Executive Officer, said:

“We are delighted the Notes were well received by a diverse group of investors and over-subscribed given the current volatile environment, which demonstrates investors’ confidence and recognition of our resilient business model and our strong capital management capabilities.”

The Notes are rated “A2” by Moody’s and A by S&P.

Net proceeds from the issue will be used for general corporate purposes and to support Link’s pursuit of Vision 2025 and growth plans.

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About Link

Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is a leading retail-focused REIT in the world. Listed in 2005 as the first REIT in Hong Kong, Link has been 100% held by public and institutional investors and is a Hang Seng Index constituent stock. From its home in Hong Kong, Link manages a diversified portfolio including retail facilities, car parks and offices spanning Hong Kong, Beijing, Guangzhou, Shanghai, Shenzhen, London and Sydney. Link seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of its medium-term target Vision 2025. For details, please visit: https://www.linkreit.com/.

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