Emira Property Fund access to debt capital markets remains robust

Posted On Monday, 24 November 2014 16:27 Published by
Rate this item
(0 votes)

Emira Property Fund's access to debt capital markets remains robust, even with general lacklustre demand for listed property commercial paper (CP).

James Templeton

At the beginning of November, Emira renewed R450 million of 12-month unsecured CP in a split of R250 million 12-month CP and R100 million each of two- and three-year Domestic Medium Term Notes (DMTNs). This equates to an average duration of 20 months, at a better-than-budgeted average margin of 119bps.

Emira raised a further R50 million of six-month CP at 37bps over six-month JIBAR last week.

Emira CEO James Templeton comments: "This brings the total debt raised by Emira to R500 million in November, indicating market confidence that recognises Emira as a high quality fund with solid fundamentals in place."

Emira Property Fund is a JSE-listed REIT that is invested in a diversified portfolio of office, retail and industrial properties. Its assets comprise 147 properties valued at R11,471 billion. Emira is also internationally diversified through its direct interest in ASX-listed Growthpoint Properties Australia (GOZ), valued at R666 million at 30 June 2014, with total assets now at R12,5 billion.

Last modified on Monday, 24 November 2014 17:29

Most Popular

Pam Golding Properties Annual Residential Property Report 2019

Nov 08, 2019
SA Reserve Bank
Signs that the residential property market is beginning to stabilise.

Rebosis Property Fund retail portfolio delivers excellent operational performance despite a tough market

Nov 11, 2019
Sisa Ngebulana REBOSIS
Rebosis Property Fund, the JSE’s first listed black-managed REIT, today reported its…

Massive property auction on behalf of Telkom

Nov 11, 2019
Agricultural Land Beaufort West
GoIndustry DoveBid SA (GoIndustry) is hosting a massive property auction on behalf of…

African Union for Housing Finance (AUHF) Cape Town declaration provides 5 point plan for african governments to address housing finance shortage

Nov 14, 2019
African Union of Housing Finance
Following the successful completion of their 35th Annual Conference, the members of the…

10 SA REITs are among South Africa’s top listed companies

Nov 15, 2019
Estienne de Klerk SA REIT Chairman
South African REITs (real estate investment trusts) have once again excelled among the…

Please publish modules in offcanvas position.