AI assistant
DEXUS — Capital/Financing Update 2011
Mar 10, 2011
64807_rns_2011-03-10_bf244bf1-dd68-437b-8fc3-af6be0edc331.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
11 March 2011
==> picture [582 x 110] intentionally omitted <==
----- Start of picture text ----- DEXUS Property GroupASX release----- End of picture text -----
NOT FOR RELEASE OR DISTRIBUTION INTO THE UNITED STATES
DEXUS Property Group (ASX: DXS) – US$250 million debt issue
DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (ASX: DXS), today priced a US$250 million debt issue in the United States 144A bond market.
The fixed rate senior unsecured notes were issued with a coupon of 5.6% and a tenor of 10 years.
DEXUS Chief Executive Officer, Victor Hoog Antink commented: “This is our second bond issue in the US 144A market and has been transacted at historically low rates. The transaction allowed us to access long dated funding, increasing our debt duration to more than four years.”
The proceeds of the bond issue will be used to repay existing funding arrangements. As a result of issuing the US fixed rate notes, US$ fixed rate hedges have been restructured. The table below shows the impact of the debt issue and hedging restructure on the Group’s hedging arrangements.
| As at 31 December2010 | FY12 | FY13 | FY14 | FY15 | AvgFY16+ |
|---|---|---|---|---|---|
| US$ m fixed | 797 | 925 | 943 | 924 | 381 |
| Average fixed rate excl margin | 6.08% | 5.49% | 5.43% | 5.12% | 5.08% |
| As at 11 March 2011 | FY12 | FY13 | FY14 | FY15 | AvgFY16+ |
| US$ m fixed | 797 | 924 | 950 | 931 | 543 |
| Average fixed rate excl margin | 4.99% | 4.57% | 4.44% | 4.40% | 4.21% |
| For further information contact: | For further information contact: | ||
|---|---|---|---|
| Media Relations | Investor Relations | ||
| Shona Harvey | T: (02) 9017 1435 | Daniel Rubinstein | T: (02) 9017 1336 |
| M: 0468 988 420 | M: 0466 016 725 | ||
| E: [email protected] | E: [email protected] |
About DEXUS
DEXUS is one of Australia’s leading property groups specialising in world-class office, industrial and retail properties with total assets under management of $13.6bn. In Australia, DEXUS is the number 1 owner/manager of office, a market leader in industrial and, on behalf of third party clients, a leading manager and developer of shopping centres. DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability. www.dexus.com
DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)
The securities referenced above have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
==> picture [572 x 100] intentionally omitted <==