THE Commonwealth Property Office Fund has priced new fixed rate Medium Term Notes for $200 million.
The new issue follows the buyback of $50.5 million of CPA’s existing floating rate notes and $107.49 million of CPA’s existing fixed rate notes (total $157.99 million) due on 28 June 2011.
The new issue of fixed rate MTNs is for a 5-year term with pricing of swap plus 165 basis points and is due on 11 March 2016.
The proceeds of the new issue will be used to replace the MTNs which were bought back and to pay down existing bank debt facilities.
Australian Property Journal
