FEDERATION Centres (FDC) has priced a second issue of medium term notes under its secured Australian medium term note programme for $150 million.
The seven-year fixed rate notes will mature on 27 May 2021 and were priced at a margin of 150 bps over the swap rate and will pay investors a coupon of 5.00% p.a.
Federation Centres managing director and CEO Steven Sewell said the competitive pricing of the second issue demonstrated the confidence investors have in the group.
“The quality and growth potential of our national portfolio of supermarketâ€anchored regional, subâ€regional and neighbourhood centres, combined with the strength of our balance sheet attracted good support from debt investors.
“This transaction continues the theme of extending the debt maturity profile and creates greater diversification of the group’s funding sources in line with our stated debt strategy,” he added.
The notes are rated A†by Standard & Poor’s. ANZ Bank, Commonwealth Bank and Westpac acted as joint lead managers for the issue.
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