Parkway Life REIT priced 7-year fixed rate notes at $33m

The notes are due in 2030.

Parkway Life REIT, a healthcare REIT, declared that it assigned a price of JPY3.5b ($33m) for senior unsecured fixed rate notes.

In a statement, the REIT said these notes comply with the $500m multicurrency debt issuance programme.

The proceeds from Series 008 notes, the second seven-year issuance notes, will be applied towards repurchasing the unsecured notes due in 2024 issued on 26 February 2018.

Parkway Life REIT Manager CEO Yong Yean Chau said this is part of their prudent capital management strategy for refinancing needs.

“By spreading out and extending our debt maturity profile to 2030, PLife REIT will continue to maintain a healthy well spread-out debt maturity ladder,” added Yong.