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Charter Hall WALE Limited, as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (CLW or the REIT) today announced that it has entered a $100 million, seven-year interest rate swap.
Kerri Leech, Head of Long WALE REIT Finance, said: “We have a strong focus on prudent capital management of the REIT and we are continuously reviewing strategies in this regard. This swap transaction improves the interest hedging position and results in improved resilience for the REIT”.
The new swap increases the REIT’s overall pro-forma hedging position to 75% and will not impact the REIT’s FY18 EPS guidance.