Lendlease Global Commercial REIT’s Inaugural S$200 Million Perpetual Securities Receives Strong Investor Participation
May 28, 2021 – Lendlease Global Commercial REIT announced that RBC Investor Services Trust Singapore Limited (in its capacity as trustee of LREIT) has successfully priced S$200 million of perpetual securities at 4.20% per annum.
The securities were 3.7 times subscribed with orders exceeding S$550 million from institutional and retail investors and the transaction was upsized to S$200 million from the initial target of S$150 million due to strong demand.
Mr Kelvin Chow, Chief Executive Officer of the Manager, said, “We are very pleased to see the high level of institutional and retail investor confidence in LREIT’s stable financial profile and resilient portfolio as well as the strong market response to our inaugural perpetual securities. We thank investors for their strong support.”
Net proceeds from the issuance of the Series 001 Perpetual Securities will be used for the financing of potential acquisition and investment opportunities which the Group may pursue in the future as well as general working capital, capital expenditure requirements and refinancing of existing borrowings, and the general corporate purposes of the Group.
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