ESR-REIT issues $125m fixed rate notes at 2.6% rate

Funds will be used to modernise its portfolio.

ESR-REIT has launched and priced over $125m of unsecured fixed-rate notes at 2.6% per annum, due 2026, which was more than 2.2 times subscribed, it announced in a bourse disclosure.

The offer is a part of its $750 multicurrency debt issuance programme, to refinance/finance existing borrowings, acquisitions investments, developments or asset enhancement works, general working capital, and capital expenditure requirements.

“Together with yesterday’s launch of the S$50m Preferential Offering that is fully backstopped by our Sponsor, these two well-supported fundraisings will further strengthen our financial position, while providing the capital to position ESR-REIT for growth,” said ESR Fund Management CEO Adrian Chui.

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