Hong Kong real estate

Link Issues $400 million 18-Year Notes At 2.18% Coupon

October 29, 2020 – Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust, announced that it has successfully priced the $400 million medium-term notes with 18-year maturity, due 2038, at coupon rate of 2.18% payable quarterly.

George Hongchoy, Link’s Chief Executive Officer, said, “We are delighted the Notes were well received by investors given the current environment. This issuance is significant to Link as the 18-year Notes are the longest tenor debt for Link to date, which demonstrates investors’ confidence and recognition of our resilient business model and our strong capital management capabilities.”

The Notes is rated “A” by Fitch Ratings. Net proceeds from the deal will be used for general corporate purposes. The Hongkong and Shanghai Banking Corporation Limited, the dealer for the Notes issue, stated that “this is one of the longest Hong Kong Dollar medium-term notes and cheapest issuance by a Hong Kong rated property company over the last decade”. 

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