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STOCKLAND — Capital/Financing Update 2011
Dec 6, 2011
65781_rns_2011-12-06_e1bedb29-9101-4d7d-8974-33a52bb6b41a.pdf
Capital/Financing Update
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133 Castlereagh Street Sydney NSW 2000
T 02 9035 2552 F 02 8988 2552
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7 December 2011 ASX/Media Release
STOCKLAND ANNOUNCES OFFER TO BUY BACK 2013 NOTES
Stockland today announced an any and all invitation to holders to tender their £250 million Medium Term Notes, due in October 2013.
The notes will be bought back at a spread of 180 basis points over the 4.5% UK Treasury Gilt due 2013.
The offer reflects Stockland’s commitment to active balance sheet management and maintaining its long-dated debt maturity profile. It will be financed through existing bank facilities.
Stockland Chief Financial Officer Tim Foster said: “This offer demonstrates our prudent approach to debt management. We continue to proactively manage pending debt maturities to maintain our long-dated debt position.”
Settlement is expected on 19 December 2011. Barclays Capital is Dealer Manager to the transaction.
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For investor enquiries contact
Michelle Taylor Karyn Munsie Senior Manager External EGM – Corporate Affairs Communications Stockland Stockland T +61 (0)2 9035 2786 T +61 (0)2 9035 2180 M +61 (0)400 356 692 M +61 (0)421 050 430
Stockland Corporation Ltd ACN 000 181 733 Stockland Trust Management Ltd ACN 001 900 741 AFSL 241190 As Responsible Entity for Stockland Trust ARSN 092 897 348.