Parkway Life REIT moves to mitigate against rising interest rates

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Amid the spectre of rising interest rates, Parkway Life REIT has taken steps to reduce its financing risks.

The healthcare REIT announced on 21 February that it has successfully priced JPY3.5 billion (USD31 million) 0.65% six-year senior unsecured notes due 2024.

The notes have been priced via an affiliated company of the REIT known as Parkway Life MTN Pte Ltd, and have been issued under an existing SGD500 million multicurrency debt issuance programme.

DBS Bank Ltd has been appointed as the sole lead manager and sole bookrunner for the issue of the notes, which is expected to complete on 26 February 2018.

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