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  • Charter Hall Group (CHC) has secured $250 million of a 10-year debt to drive investment capacity and earnings
  • The $250 million of Australian dollar medium-term notes were priced at a fixed coupon of 3.1 per cent and were swapped back to a floating exposure, which provides an all-up cost of debt of 1.5 per cent per annum, at the current floating rate
  • The notes are expected to settle on 21 April, with the proceeds use to provide growth capital for the group.
  • Charter Hall Group is down 0.44 per cent, trading at $13.43

Charter Hall Group (CHC) has secured $250 million of a 10-year debt to drive investment capacity and earnings.

Charter Hall is a fully integrated property group, with experience in property investment and funds management.

The $250 million of Australian dollar medium-term notes were priced at a fixed coupon of 3.1 per cent and were swapped back to a floating exposure, which provides an all-up cost of debt of 1.5 per cent per annum, at the current floating rate.

The notes are expected to settle on 21 April, with the proceeds use to provide growth capital for the group.

“This bond issuance is consistent with our strategy to increase liquidity, extend our weighted average debt maturity, which is now 6.9 years, and diversify our sources of debt capital,” said Russell Proutt, Group CFO.

“We are pleased that the transaction was strongly supported by domestic and international investors with this representing the fourth successful Australian dollar medium term note issuance across the broader Charter Hall funds management platform this financial year.”

“This issue increases the volume of debt capital market issuance beyond $4 billion across the Platform’s $19 billion of debt facilities, of which $13 billion net of cash is drawn, providing significant liquidity and investment capacity across the Platform including the balance sheet of CHC”.

Charter Hall Group is down 0.44 per cent, trading at $13.43 at 3:45 pm AEST.

CHC by the numbers
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