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BWP Trust Issue $100M Notes


The BWP Trust announced this week that the Trust has successfully priced a new Australian Dollar Medium Term Note issue of AUD$100 million unsecured fixed medium term notes, maturing in April 2026.

The 7-year AUD$MTN notes were issued at a coupon rate of 3.30 per cent. The pricing represents a margin of 150 basis points over the semi-quarterly coupon matched asset swap.

Proceeds from the issue will be applied to general funding.

This third Note issue is a further step in the responsible entity’s objective of increasing the diversity and duration of the Trust’s debt funding.

The joint lead managers for the issue were Commonwealth Bank of Australia and Westpac Banking Corporation. BWP Trust is rated A-/Stable by Standard and Poor’s and A3/Stable with Moody’s Investors Service.

BWP Units are trading 17% higher than 1st Jan 2018 as compared to the ASX AREIT Index at 9.4% higher.

BWP Trading Chart vs ASX200 AREIT

Blue - BWP,

Purple ASX200 AREIT