ESR-Logos Reit’s trustee priced subordinated perpetual securities at $150m

The net proceeds of the issuance will be used to fund the merger.

RBC Investor Services Trust Limited, the trustee of ESR-Logos Reit, rolled out and priced $150m of 5.50% subordinated perpetual securities under the Series 008.

According to ESR-Logos Management, the Series 008 Securities will be issued under ESR-Logos Reit’s $750m multicurrency debt issuance programme.

The appointed joint lead managers for the series are DBS Bank Limited, Oversea-Chinese Banking Corporation Limited, and United Overseas Bank Limited.

Further, net proceeds from the issuance of the Series 008 securities, after deducting issue expenses, will be used to refinance cash consideration of the merger of ESR-Logos Reit and Ara Logistics Trust, refinancing the existing borrowings of ESR-Logos Reit and its subsidiaries, financing or refinancing the acquisitions and/or investments and any development and/or asset enhancement works of the Group.

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