Charter Hall Long WALE REIT – Charter Hall Exchange Investment Trust confirms 10 year financing

Contact Us

Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.

First Name*

Last Name*

Company Name

Email*

Phone* Please prefix the number with +<country code><area code>

I am interested in

Office Industrial Retail Diversified Social Infrastructure

Enquiry

*Indicates that this field is required.

All personal information submitted will be treated in accordance with our privacy policy.

By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.

To access this part of the website, please select your country of residence from the following list.

The country of my primary residence is:

Due to legal restrictions, access to this website is only available to residents of Australia and New Zealand from within Australia or New Zealand. In order to access this website, you must provide the State, Territory or Province and postcode for your primary residential address within Australia or New Zealand.

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

The postcode for my primary residence in Australia is:

Proceed

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

The postcode for my primary residence in New Zealand is:

Proceed

By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:

you are not in the United States or a “U.S. person”, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Person”), nor are you acting for the account or benefit of a U.S. Person;
you will not make a copy of the documents on this website available to, or distribute a copy of such documents to, or for the account or benefit of, any U.S. Person or any person in any other place in which, or to any other person to whom, it would be unlawful to do so; and
the state, territory or province and postcode provided by you below for your primary residence in Australia or New Zealand are true and accurate.

I agree to the above terms Yes or No.

Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.

Charter Hall WALE Limited as responsible entity of the Charter Hall Long WALE REIT (ASX:CLW) (the REIT), announces that the Charter Hall Exchange Investment Trust (CHEIT) (rated A3 (stable) by Moody’s), in which CLW owns a 50% interest, has today confirmed A$300 million 10 year Medium Term Notes (Notes) which will mature in September 2030¹.

CHEIT owns a 49% interest in The Exchange Trust, which owns a portfolio of 36 telecommunication exchange properties (Telco Exchange Portfolio). The Telco Exchange Portfolio is 100% leased to Telstra Corporation Limited on NNN lease terms with a WALE of 20.1 years as at 30 June 2020.

The Notes will be issued with a fixed coupon of 2.32%, representing a spread of 1.55% over the relevant swap rate. The issuance is due to settle on 25 September 2020, subject to customary closing conditions. The proceeds from the issuance are to be utilised to retire an equivalent amount of CHEIT’s existing senior debt facility. Commonwealth Bank of Australia was the sole lead manager for the transaction.

The issue of the Notes and the retirement of an equivalent amount of CHEIT’s existing senior debt facility has no impact on the FY21 Operating EPS guidance provided to the market at CLW’s results on 7 August 2020.

CLW Fund Manager, Avi Anger commented,

“The issuance of these 10 year Notes increases CLW’s weighted average look through debt maturity from 3.7 years to 4.2 years at the time of settlement. The Notes also further diversifies debt sourcing for CLW and capitalises on the underlying strength, tenant quality and credit profile of the Telco Exchange Portfolio.”

Announcement Authorised by the Board

Click here to view the ASX Announcement

^{1 Represents CLW look through debt of $150 million.}