AIMS APAC REIT issues $150m in 4.10% perpetual securities

Major banks back a new $750m programe entry.

AIMS APAC REIT Management Limited is set to issue $150m of 4.10% perpetual securities under its $750m Multicurrency Debt Issuance Programme.

In a regulatory filing, the REIT manager said the Series 005 Perpetual Securities will be implemented by AA REIT trustee HSBC Institutional Trust Services (Singapore) Limited.

The issuance will constitute direct, unconditional, subordinated and unsecured obligations of the issuer.

Net proceeds from this issuance will be used for refinancing existing borrowings and/or financing capital expenditure and/or general working capital purposes and/or investments and acquisition of investment properties. This may also fund the refinancing of the existing $250m fixed-rate subordinated perpetual securities.

DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited have been appointed as joint lead managers and bookrunners for the Series 005 Perpetual Securities.

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AIMS APAC REIT

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