DGAP-News: Dream Global Real Estate Investment Trust / Key word(s): Bond/Rating / TORONTO, June 21, 2019 DREAM GLOBAL REIT (TSX:DRG.UN, FRA:DRG) (or "Dream Global", the "Trust" or "we") announced that it has priced its previously announced European debt offering of EUR300 million aggregate principal amount of senior unsecured notes (the "Bond" or "Bonds") due June 2026. The Bonds will be issued by Dream Global Funding I S.à r.l, a wholly owned finance subsidiary of Dream Global REIT (the "REIT"), and will be guaranteed by the REIT. The Bonds will be listed on the Euronext Dublin Exchange. Closing and settlement of the transaction is scheduled for June 28, 2019. The Bonds will have a term of seven years with a coupon rate of 1.75%, payable annually in arrears, representing a yield to maturity of 1.891% per annum based on an offering price of 99.083 per EUR100.000 principal amount of Bonds. The Trust intends to use the Bond proceeds to repay upcoming secured debt obligations, including the repayment of its Term Loan credit facility, to fund acquisitions and for general corporate purposes. As previously announced, Moody's Investor Service has upgraded the Trust's long-term issuer rating to Baa2 from Baa3. The credit rating upgrade is reflective of the progress the Trust has made in reducing leverage, increasing its financial flexibility by diversifying sources of debt funding and building its pool of unencumbered assets. Morgan Stanley acted as the Sole Lead Manager for the offering of the Bonds. This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction. This news release does not constitute an offer of securities for sale in the United States and the securities referred to in this news release may not be offered or sold in the United States absent registration or an exemption from registration. About Dream Global REIT Dream Global REIT is an owner and operator of a diversified high-quality portfolio of office and industrial properties located in key markets in Western Europe with a focus on Germany and the Netherlands. Our in-house platform comprises over 140 local leasing, property management, asset management and development professionals operating out of 13 offices in Europe and North America. For more information, please visit www.dreamglobalreit.ca. For further information, please contact:
Forward-looking information
21.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Dream Global Real Estate Investment Trust |
30 Adelaide Street East | |
M5C 3HI Toronto | |
Canada | |
Phone: | 416-365-3535 |
Fax: | 416-365-6565 |
E-mail: | globalinfo@dream.ca |
Internet: | www.dreamglobalreit.ca |
ISIN: | CA26154A1066 |
WKN: | A1131Y |
Listed: | Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange; Toronto |
EQS News ID: | 829037 |
End of News | DGAP News Service |
829037 21.06.2019