Capital Management achievements
- Listed Funds
Dexus has a strong track record of proactive and prudent capital management
Dexus manages total debt capital of over $6.5 billion on behalf of the listed Dexus entity (DXS) and the group's third party clients, with funding sourced from domestic and international capital markets and through relationships with a range of banks. We provide a list of our funding achievements below.
2020
- Dexus established a Euro Medium Term Note (EMTN) Program
- Dexus issued A$500 million of MTNs with a 12 year tenor
2019
- Dexus and DWPF entered into an agreement to jointly acquire 80 Collins Street in Melbourne. Dexus funded its 75% interest through a fully underwritten $900 million institutional placement and a non-underwritten Security Purchase Plan raising circa. $64 million
- Dexus and DWPF entered into an agreement to jointly acquire the remaining 50% interest in MLC Centre, Sydney. Dexus funded its 25% interest through debt and the issue of A$425 million Guaranteed Exchangeable Notes
- DWPF undertook an equity raise of up to $400 million to fund the acquisition of a further 25% interest in the MLC Centre, Sydney
- DWPF undertook an equity raise of up to A$200 million
- DWPF issued A$502 million (equivalent) in the US Private Placement market over 12, 14 and 15-year maturities for an average tenor of 13.6 years
- Dexus issued A$200 million of MTNs with a 10 year tenor
2018
- DWPF issued A$50 million and US$155 million in the US Private Placement market over 12, 13 and 15-year maturities for an average duration of 13.3 years
- Dexus issued a A$30 million MTN and A$75 million USPP via reverse enquiry for a duration of 20 years
2017
- Dexus issued A$265 million of MTNs via a mix of reverse enquiry and new issuance at an average duration of 8.6 years
- Dexus issued A$150 million and US$385 million in the US Private Placement market over 12 and 15-year maturities for an average duration of 13.5 years
- Dexus successfully completed a A$500 million equity raising via fully underwritten institutional placement
2016
- Dexus issued $120 million of MTNs via reverse enquiry at an average duration of 7.6 years
- Dexus issued A$100 million in the US Private Placement market at an average duration of 12 years
- DWPF issued $65 million of MTN's via reverse enquiry at an average duration of 8.7 years
2015
- Dexus issued $90 million of MTNs via reverse enquiry at an average duration of 9 years
- Dexus issued $200 million of MTNs comprising 7 and 10-year tenors, with an average duration of 7.75 years
- Dexus completed a $480 million equity raising; via $400 million fully underwritten institutional placement and approx. $80 million non-underwritten Security Purchase Plan
2014
- Dexus received a credit rating upgrade from both S&P and Moody's. The long-term credit ratings were upgraded to A- and A3 respectively
- Dexus issued US$250 million in the US Private Placement market over 10 and 12-year maturities, replacing short term funding put in place for the CPA transaction
- DWPF issued an MTN for $100 million for five years
- Dexus completed $1.3 billion acquisition funding for the CPA transaction
- Dexus completed a partial buy-back of its July 2014 MTNs
2013
- Dexus issued US$500 million over two separate issues in the US Private Placement market
2012
- Dexus completed a six-year MTN issue for $100m and subsequently increased it by $75 million through a series of taps
- Dexus undertook a buy-back of up to $100 million of its $300 million 144A bonds due to mature in 2014 which resulted in an over-subscription of $175 million of demand
- Dexus completed $450 million of unsecured bank debt financing
2011
- Dexus completed a second 144A issuance issuing $250 million for 10 years
2010
- DWPF secured an A rating from S&P
- DWPF completed inaugural $250 million five-year MTN, diversifying its funding sources and increasing its debt duration
- Dexus successfully completed a buy-back of its February 2011 MTN (90% take up) and a subsequent seven-year new issue
2009
- Dexus originated a debut US$300 million five-year 144A issue
- Dexus completed a $160 million five-year MTN in difficult market conditions
- Dexus obtained a second credit rating from Moody's investor services being (Baa1), outlook stable rating, in line with the equivalent S&P rating of BBB+
2008
- Dexus secured $500 million in bank funding for refinancing of the DOT $500 million Office CMBS
- Dexus refinanced a US Teachers mortgage loan with NY Life
- Dexus established a four-year $200 million MTN
2006
- Dexus established an A$MTN program and issues its debut $250 million 3.5 year MTN
- Dexus originated a $200 million US private placement (av. tenor >10 years), diversifying funding sources and pushing out refinance risk
2005
- The group completes a seven-year hybrid security, RENTS, sold to both retail investors and institutional investors
2004
- Dexus terms out bridge funding by originating a $200 million US private placement
- Dexus completes bridge funding and a $900 million loan syndication as part of the Group's four trusts stapling to form DB RREEF Trust (DRT) and the acquisition of a US$1 billion property portfolio
- Dexus achieves a S&P private rating on the Group of BBB+
Contact us
For more information on investing with Dexus, please contact us using the button below or call:
Retail investor enquiries: 1800 819 675
Institutional investor enquiries: +612 9017 1330
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