Dexus Price Exchangable Notes

17 March 2019

Following Dexus’s announcement to acquire the MLC Centre for $800m and to fund the acquisition through a mix of debt and Notes issue, the group has now confirmed details regarding its offer of A$425 million Guaranteed Exchangeable Notes due in June 2026. Dexus announced that 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. More information is available at #Dexus