Investa Funds Management Limited (Investa), as responsible entity for Investa Commercial Property Fund (ICPF) (A-/Stable/--), today announced the successful pricing of its inaugural 5 year A$250 million medium term note (MTN) issue, with a 6.75% semi-annual coupon and maturity of 3rd June 2016.The Notes, rated A by Standard & Poor's (S&P), are secured over a pool of 9 properties, with bondholders ranking pari passu with other secured creditors.The bond issue is ICPF's first borrowing in the MTN market and was launched as an A$200 million minimum transaction. Strong oversubscription allowed ICPF to upsize the issue to A$250 million with pricing in line with guidance at swap +145 bps.Commenting on the result ICPF Fund Manager Peter Menegazzo said: “The high level of demand reflects ICPF's strong financial position and its solid reputation in the Australian unlisted REIT sector.”Mr Menegazzo said proceeds will help to lengthen the average maturity of ICPF's debt portfolio and provide ICPF with a source of cost effective long-term funding that will improve the return profile of the Fund.“The positive result is a further endorsement of ICPF's prime asset quality and core defensive characteristics, and reinforces its reputation as Australia's premier unlisted office Fund,” said Mr Menegazzo.The issue was conducted following S&P assigning an 'A' rating to ICPF's MTN program. In assigning the rating S&P stated that the one-notch uplift over the long-term corporate credit rating on ICPF reflects the Fund's overcollaterization of pledged assets to secured debt.Earlier in May S&P granted ICPF an 'A-' long-term corporate credit rating with a stable outlook. The 'A-' rating reflects S&P‟s view of the Fund‟s high quality asset base and experienced office management team.Ming Long, Group Chief Financial Officer at Investa commented: “The success of the issue is further evidence of strong demand in the domestic bond market, and that the local MTN market provides Australian corporate issuers with volume at globally competitive pricing.”Ms Long said the order book closed with the issue being more than 50% oversubscribed with some investors reallocating their exposures to ensure they were able to participate in the issue. Demand came from a wide range of high quality institutional investors, including some of Australia's most respected financial institutions.The proceeds of the program will be used to retire existing debt facilities.ICPF was rated the top performing Australian unlisted office REIT for the financial years ended 30 June 2008 to 30 June 2010 on the Mercer IPD index. Its portfolio of 11 assets includes interests in some of Australia‟s leading office buildings, including Deutsche Bank Place at 126 Phillip Street Sydney and 242 Exhibition Street Melbourne.ANZ acted as sole lead manager on this transaction.