Asia's largest Reit debuts $500m bond

Hong Kong-based Link Reit sells its first dollar-denominated note with the aim of extending the tenor of its funding program.
Supermarkets contribute to 23% of Link Reit's rental income
Supermarkets contribute to 23% of Link Reit's rental income

Hong Kong-based Link Real Estate Investment Trust The Link Reit raised a debut $500 million 10-year bond on Tuesday, with the goal of extending duration.

A regular issuer in the dollar-denominated private placement space, Link Reit’s offering benefited from the fact that it’s a household name in the domestic market.

The company was the first Reit to be listed on the Hong Kong Stock Exchange in 2005 and is also the largest Reit in Asia, according to sources familiar with the matter. The company’s market capitalisation is HK$105 billion $13.5 billion.

As a result, Link Reit was able to tighten pricing...

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