Pricing of $425 million exchangeable notes offering

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13 March 2019

Pricing of $425 million exchangeable notes offering

Dexus refers to its announcement from 12 March 2019 regarding its offer of A$425 million Guaranteed Exchangeable Notes (‘Notes’) due June 2026.

Dexus announces that the Notes priced overnight. The Notes will pay a fixed coupon rate of 2.30% per annum and are exchangeable into Dexus Stapled Securities at an initial exchangeable price of A$15.05 per security (subject to standard exchange price adjustments), reflecting a premium of 20% to Dexus’s closing price on 12 March 2019.

Settlement of the Notes is expected to be completed on 19 March 2019 and is subject to satisfaction of customary conditions precedent.

Citigroup Global Markets Australia Pty Limited, J.P. Morgan Securities PLC and Merrill Lynch Equities (Australia) Limited acted as Joint Lead Managers and Underwriters to the issue.

Refer to the PDF for further information.