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Charter Hall Group (Charter Hall or the Group) today announced that its $13.5 billion flagship industrial and logistics fund, Charter Hall Prime Industrial Fund (CPIF), has successfully raised $1.25 billion in the Asian debt market, further diversifying CPIF’s debt capital sources over the long-term.
The CPIF Asian Term Loan represents one of the largest single debt capital raisings completed in Charter Hall’s history and one of the largest capital raisings for the AREIT sector in 2023.
This capital raise enables CPIF to continue actively curating its portfolio and funding its committed development pipeline, which will deliver new high-quality industrial and logistics stock in a high demand, low supply market.
Charter Hall Industrial & Logistics CEO, Richard Stacker, said, “The successful completion of a capital raise of this size and in this economic environment speaks volumes about the confidence that the Asian debt market has in CPIF’s ability to execute on its strategy and create value for its investors.”
Charter Hall Chief Financial Officer, Russell Proutt, said, “At Charter Hall, we have a proven track record of leveraging the size and scale of our platform to deliver superior results for our investors across our funds, and this is another example of how our team of experts achieves these outcomes in a well-coordinated and decisive way.”
Led by HSBC and MUFG, the transaction was completed in two tranches of 5 and 6.75 years and was 2.5 times oversubscribed following strong investor interest.