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AIMS AMP Reit to raise S$50m with 3.6% five-year bond issue
AIMS AMP Capital Industrial Reit said it plans to issue S$50 million of 3.6 per cent fixed rate notes due March 22, 2022, as part of a funding programme.
The notes are in denominations of S$250,000. Net proceeds will be used to partially repay a credit facility due in November.
Chief executive officer of the Reit (real estate investment trust) manager, Koh Wee Lih, said in a press release that the issuance will extend the Reit's debt maturity profile from 2.1 years to 2.5 years.
The Reit previously raised S$100 million with four-year 4.90 per cent notes issued in August 2012, which have been redeemed; S$30 million seven-year 4.35 per cent notes issued in December 2012; and S$50 million five-year 3.80 per cent notes issued in May 2014.
The Reit last traded at S$1.36.