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Charter Hall WALE Limited (“CHWL”) as responsible entity of each of LWR Finance Trust, Charter Hall Direct Industrial Fund, Canning Vale Logistics Trust No. 1, 218 Bannister Road Trust, CPOF Kogarah Holding Trust, Franklin Street Property Trust, and CHPT Dandenong Trust (together, Charter Hall Long WALE REIT) (ASX:CLW) today announced that it has entered into a $140 million five-year interest rate swap at a rate of 2.14%.
The resulting forecast average interest rate under the REIT’s Debt Facility (defined in the Product Disclosure Statement dated 27 September 2016) is expected to be 3.7% on drawn amounts for the period from 10 November 2016 until the end of the 1H FY18, which is consistent with the forecast provided in the Supplementary Product Disclosure Statement dated 27 October 2016. The proportion of hedged balance sheet debt for the REIT is 58%, with the proportion of hedged look through debt being 66%.