ESR-REIT Annual Report 2024 307 NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024 34. SUBSEQUENT EVENTS (CONTINUED) (e) Issuance of $100 million notes On 27 February 2025, ESR-REIT issued $100 million in aggregate principal amount of 4.05% notes due on 27 February 2030 comprised in Series 010 (the “Series 010 Notes”). The Series 010 Notes were issued under the Debt Issuance Programme. (f) Entry into $20 million letter of credit/demand guarantee facility On 27 February 2025, ESR-REIT entered into a facility agreement for standby letters of credit/demand guarantee of up to $20 million. (g) Claim from a tenant of a property in Singapore On 27 February 2025, HSBC Institutional Trust Services (Singapore) Limited in its capacity as retired trustee of ALOG Trust, ARA LOGOS Property Management Pte. Ltd., as the former property manager of ALOG Trust, and ESR Property Services Pte. Ltd. were served with a claim from the tenant of a property in Singapore for damages amounting to approximately $27.4 million in relation to losses suffered arising from damages in its rented premises. Based on the advice received from the Group’s external legal counsel, the Manager has determined that as at the date of these financial statements, no provision for the claim is required as the Manager does not consider it probable that there will be any significant outflow of resources arising from the claim. (h) Issuance of new Units On 10 March 2025, ESR-REIT issued 14.5 million new Units amounting to approximately $3.7 million at an issue price of $0.2551 per Unit as partial payment for the Manager’s base management fees and the Property Manager’s property management fees. (i) Launch of $125 million perpetual securities On 13 March 2025, ESR-REIT launched and priced $125 million in aggregate principal amount of 5.75% subordinated perpetual securities comprised in Series 011 (the “Series 011 Securities”). The Series 011 Securities will be issued under the Debt Issuance Programme and is expected to be issued on 20 March 2025. 35. AUTHORISATION OF FINANCIAL STATEMENTS The financial statements for the financial year ended 31 December 2024 were authorised for issue in accordance with a resolution of the Board on 18 March 2025.
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