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Dexus prices A$425M notes issue


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Dexus prices A$425M notes issue

Dexus priced a A$425 million notes offering at a fixed coupon rate of 2.30% per annum, with proceeds to be used to help pay for a 50% stake worth A$800.0 million in a Sydney property that it is buying with Dexus Wholesale Property Fund.

The guaranteed notes may be exchanged into stapled securities of the company at an initial price of A$15.05 apiece, subject to standard adjustments.

Dexus expects the settlement of the notes to be completed March 19.

Citigroup Global Markets Australia Pty. Ltd., J.P. Morgan Securities PLC and Merrill Lynch Equities (Australia) Ltd. are the joint lead managers and underwriters of the notes issuance.