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The issuance is due to settle on 24 August 2018, subject to customary investor due diligence and documentation. The proceeds from the issuance are to be utilised to support CHC’s investment activities. RBC Capital Markets, LLC and HSBC Securities (USA) Inc. were joint lead placement agents and joint book-runners for the transaction.
Charter Hall’s Chief Financial Officer, Russell Proutt commented:
“The issuance of these 10-year Notes and the recent 5-year term refinancing of the corporate facility, provide a combined weighted average debt maturity for the Group’s debt of 7.8 years. The financing also further diversifies debt sourcing for the business and capitalises on the strength of the underlying resilience, tenant quality and rental growth profile of the portfolio of property investments and management platform.”
The Group’s Managing Director and CEO, David Harrison further commented:
“This is an exciting milestone for the Group to continue the excellent progress in accessing debt capital markets for our funds to now extend to Charter Hall. The greater debt capacity reflects the threefold increase in the Group’s balance sheet property investments over 5 years, whilst the net cash position and modest gearing levels of fund co-investments, provide considerable dry powder to further grow our investment portfolio".