News

  • Photo: ESR

05.11.2020

Artikel Nummer: 33940

ESR's latest facility investment


Hong Kong-based ESR Cayman, a major Apac-focused logistics real estate platform, has closed a new facility agreement. The investment amounts to about JPY 15 billion (USD 143 million) for a three-year unsecured term loan facility with an upsize option to JPY 20 billion in the next 12 months, at JPY Tibor plus 2.00%.

 

In September 2020, ESR Cayman successfully priced and issued its maiden USD 350 million convertible bond at 1.5% coupon due 2025. As of 30 June 2020, the group’s cash and bank balances were in a good position of approximately USD 947 million and net debt to total assets was approximately 28.6%.

 

With the closing of this new JPY term loan, the company is on track to further reduce its borrowing cost post IPO with improved credit profile. (sh)

www.esr.com

 

 

 

Nouvelles connexes