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CQR completes debt refinance, announces 1H19 Distribution and reactivates DRP

13/12/2018

Debt Refinancing

Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announces the successful completion of a $210 million debt refinancing. The existing FY21 debt facility has been replaced with a $40 million facility maturing on FY22 and a $170 million facility maturing in FY23. The REIT now has no debt maturing until FY22.

Head of Retail Finance and Deputy Fund Manager CQR, Christine Kelly commented: “Consistent with our strategy of prudent capital management, it’s pleasing to have extended our weighted average debt maturity and ensure we have no debt maturing in the next two years. The new facilities are with the existing banks and on attractive terms, with no material pricing impact to investors.”

Distribution for half-year ending 31 December 2018

Charter Hall Retail Management Limited, as responsible entity for CQR is also pleased to announce a distribution of 14.28 cents per unit for the half year ending 31 December 2018. This represents a 2% increase on 1H FY18 distribution per unit.

Proposed payment details are:

Distribution:

14.28 cents per unit

Record date:

31 December 2018

Securities trade ex-distribution:

28 December 2018

Payment date:

On or around 28 February 2019


Distribution Reinvestment Plan (DRP)

Charter Hall Retail Management Limited, as responsible entity for CQR also announces that the distribution reinvestment plan has been reactivated with the 1H19 distribution. The DRP issue price will be at a 1% discount to the average of the daily volume weighted average price of securities in ordinary trading on the ASX over a 15 trading day period commencing on 4 January 2019, and ending on 24 January 2019. The last day for lodgement of DRP election notices is 5:00pm on 2 January 2019.

<View ASX Release>

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For further information, please
contact:

Greg Chubb
Retail CEO
Charter Hall Retail REIT 

T +61 2 8651 9355
greg.chubb@charterhall.com.au

For investor enquiries, please
contact:

Phillip Cheetham 
Head of Listed Investor Relations
Charter Hall

T +61 2 8651 9214
philip.cheetham@charterhall.com.au

 

For further information, please
contact:

Christine Kelly
Deputy Fund Manager CQR and Head of Retail Finance
Charter Hall Retail REIT 

T +61 2 8651 9401
christine.kelly@charterhall.com.au

For media enquiries, please
contact:

Angus Booth
Group Manager – External Affairs
Charter Hall 

T: +61 8651 9223 
angus.booth@charterhall.com.au