GLP : NEWS RELEASE - GLOBAL LOGISTIC PROPERTIES ISSUES JPY 15 BILLION (US$ 192 MILLION) UNSECURED NOTES DUE IN 2027
07/26/2012| 07:57am US/Eastern
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(Registration No. 200715832Z)
For Immediate Release
NEWS RELEASE
GLOBAL LOGISTIC PROPERTIES ISSUES JPY 15 BILLION (US$ 192
MILLION) UNSECURED NOTES DUE IN 2027
Singapore, 26 July 2012 - Global Logistic Properties Limited
("GLP" or www.glprop.com), the market leader in modern
logistics facilities in China and Japan, has issued JPY 15
billion (US$ 192 million2) in senior unsecured
notes (the "Notes") under its current Euro Medium Term Note
Programme.
The unsecured Notes, maturing in 2027, have a fixed coupon
rate of 2.70% payable on a semi-annual basis. The Notes are
rated BBB+ by Fitch.
Ms Heather Xie, the Chief Financial Officer of the Company,
said, "This Yen denominated Note serves as a natural hedge
for currency exposure and further strengthens our financial
position. In addition, the long 15-year tenure we were able
to secure for these Notes further extends GLP's debt maturity
profile. Today's announcement illustrates how GLP's robust
1 The initial public offering of the Company was
sponsored by Citigroup Global Markets Singapore Pte. Ltd. and
J.P. Morgan (S.E.A.) Limited (the "Joint Global Coordinators
and Joint Issue Managers"). The Joint Global Coordinators and
Joint Issue Managers assume no responsibility for the
contents of this announcement.
2 Based on 1 USD = 78.12 JPY
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capital structure allows us to access very long tenured debt,
at attractive pricing, further strengthening our balance
sheet and extending debt maturities. This provides us with
both stability and flexibility to continue growing the
business."
Proceeds from the Notes will be for general corporate funding
requirements. The dealer for this drawdown is Deutsche Bank.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia's largest provider
of modern logistics facilities. It owns, manages and leases
out 438 completed properties in 163 logistics parks spread
across 33 major cities in China and Japan, forming an
efficient logistics network with properties strategically
located in key logistics hubs, industrial zones and urban
distribution centres. By providing flexible solutions of
Multi-tenant, Build-to-Suit and Sale-and-Leaseback, GLP is
dedicated to improving the supply chain efficiency for
strategic expansion goals of the most dynamic manufacturers,
retailers and 3rd party logistics companies in the world. The
Group was listed on the Mainboard of Singapore Exchange
Securities Trading Limited on 18 October 2010 (Stock code:
MC0.SI).
Issued by: Global Logistic Properties Limited
Investor Relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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DISCLAIMER:
This press release is not an offer of securities for sale or
a solicitation of an offer to purchase
securities. This release may contain forward-looking
statements that involve risks and uncertainties.
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Forward-looking statements include statements regarding the
intent, belief and current expectations of GLP or its
officers with respect to various matters. When used in this
press release, the words "expects,"
"believes," "anticipates,"
"plans," "may," "will,"
"should" and similar expressions, and the negatives
thereof, are intended to identify forward-looking statements.
Actual future performance, outcomes and results may differ
materially from those expressed in forward-looking statements
as a result of a number of risks, uncertainties and
assumptions. Representative examples of these factors include
(without limitation) general industry and economic
conditions, interest rate trends, cost of capital and capital
availability, availability of real estate properties,
competition from other companies and venues for the
sale/distribution of goods and services, shifts in customer
demands, customers and partners, changes in operating
expenses, including employee wages, benefits and training,
governmental and public policy changes, and the continued
availability of financing in the amounts and the terms
necessary to support future business. You are cautioned not
to place undue reliance on these forward-looking statements,
which are based on the current view of management on future
events and speak only as of the date of this press release.
GLP does not undertake to revise forward-looking statements
to reflect future events or circumstances. No assurance can
be given that future events will occur, that projections will
be achieved, or that GLP's assumptions are
correct.
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