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GLP markets US dollar 10-year bonds
[SINGAPORE] Global Logistic Properties has released price guidance for a yield in the area of 210bp over Treasuries for an offering of Reg S-only US dollar 10-year bonds.
Citigroup and Deutsche Bank are joint global co-ordinators on the offering, as well as joint bookrunners with DBS. The notes are expected to be rated in line with the issuer at rated Baa2/BBB+ (Moody's/Fitch).
GLP provides logistics facilities in China, Japan, Brazil and the US. Sovereign wealth fund GIC Private Ltd owns a 35.75 per cent stake in the Singapore-listed company.
IFR Market News