Dexus (ASX:DXS) announced it has placed a long-dated US private placement offering totaling $653 million comprising both US and Australian dollars.
The issue of shares comprises four portions of notes totaling US$385 million and AU$150 million across an average of 13.5 years.
The proceeds from the new long-dated debt will be used to repay existing debt facilities.
Dexus Chief Financial Officer Alison Harrop said the offering was oversubscribed from the initial US$150 million offering, supported by a combination of both new and existing investors, resulting in the decision to increase the issued amount.
She said the issue continues to improve diversification of funding sources and will extend the average duration of debt to approximately 7.3 years.
Shares in Dexus (ASX:DXS) are trading 0.2 per cent higher to $10.02 a share.