REIT Financial News - 23 MAR 2010: A-REIT'S EARLY REDEMPTION OF €165,000,000 CMBS

A-REIT'S EARLY REDEMPTION OF €165,000,000 CMBS. See report.

Key Points

• Early redemption of the €165,000,000 Class AAA Secured Floating Rate Notes ("P2-AAA-001 CMBS") has been completed today.
• The P2-AAA-001 CMBS were issued on 12 May 2005 by Emerald Assets Limited, a special purpose vehicle, as Euro-denominated notes backed and secured by the cashflows and assets from 23 properties owned by A-REIT with an original expected maturity date falling on 12 May 2012.

Author's Note
This is following A-REIT's earlier announcement to offer the ECS (Exchangeable Collateralised Securities) and Other Capital Structure Enhancement. The early redemption of the €165,000,000 CMBS is part of the capital structure enhancement plan.