Link REIT's property, Roosevelt Plaza in Tongzhou. (Photo: Link REIT)

Link REIT has completed a convertible bonds issue exercise, that could potentially dilute the holdings of existing unitholders by approximately 1.7%.

The bonds in the aggregate principal amount of HKD4 billion (USD509 million) was issued on 3 April 2019 to selected institutional investors, and are now listed on the Hong Kong Stock Exchange.

The instruments bear interest from 3 April 2019 at the rate of 1.60% per annum on the principal amount till April 2024, payable semi-annually in arrear on 3 April and 3 October each year till then.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.