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Shopping Centres Australasia prices A$175M debt offering

Shopping Centres Australasia Property Group priced A$175 million of seven-year medium-term notes due June 2024.

Interest on the notes is payable semiannually at a fixed rate of 3.943% per annum.

The company said it will receive the funds June 7, noting that the funds will go toward the repayment of bank debt and funding of acquisitions.

Shopping Centres added that it is maintaining its full-year fiscal 2017 funds from operations guidance of 14.6 cents per unit and full-year distribution guidance of 13.1 cents per unit.

The S&P Capital IQ consensus FFO-per-share estimate for the full year is 15 cents.

As of May 31, US$1 was equivalent to A$1.34.