Link: https://links.sgx.com/1.0.0/corporate-announcements/SWDIJYFAFLI52V2O/16ca33dc2f98a6bedca383cd5070f71cbd3c717d94ad0a987b6dcc49fceee1ee

Summary:

• Financial Performance: Distributable income increased by 10% year-over-year, driven by proactive leasing, accretive investing, and prudent financing.
• Portfolio Improvement: Portfolio occupancy improved by 100 basis points sequentially, with notable leasing momentum in Los Angeles and upticks in Frankfurt and Osaka.
• Strategic Investment in Osaka: Acquired a 20% interest in a second data centre on the Sponsor’s connected campus in Osaka, expected to be 1.8% accretive to DPU.
• Medium-Term Note Programme: Established a Medium-Term Note Programme to diversify funding sources and reduce reliance on bank debt. Issued inaugural debt private placement under this programme to finance the Osaka investment.
• Leasing Activity: Signed $3 million of new and renewal leases with a positive 183% cash rental reversion, indicating strong growth potential within the portfolio.
• APAC Expansion: The Osaka investment enhances geographic diversification and increases the annualised revenue contribution from Osaka, making it the fourth-largest market.
• Balance Sheet Strength: The company boasts a strong balance sheet with a weighted-average debt maturity of 4.5 years, no debt due before December 2027, and significant liquidity.
• Favorable Fundamentals: The data centre industry's counter-cyclical nature and the company's strategic positioning provide resilience for customers and investors.
• Strategic Objectives: The company remains focused on proactive leasing, accretive investing, and prudent financing to create value for unitholders.