The new units issued pursuant to the private placement will, upon issue, rank pari passu in all respects with the existing units in issue on 1Apr 10, being the day immediately prior to the date on which the new units are issued, including the right to any distributions which may be paid for the period from the day on which the new units are issued, being Apr 11, to June 30, as well as all distributions thereafter, but will not be entitled to participate in the cumulative distribution.

The trust's manager says that this private placement is expected to raise about $200 million. Of which, $145.5 million or 73% of the gross proceeds will be used to repay existing debts, while $50 million or 25% of the proceeds will be used to repay existing debts, pending the use of such amount to partially fund the proposed acquisitions of six logistics assets located in Japan, one logistics asset located in Sydney, Australia and one logistics asset located in Icheon-si, Gyeonggi-do, South Korea.

The remaining $4.5 million or 2% of the gross proceeds will be used to repay xisting debts, pending the use of such amount to pay the estimated professional and other fees and expenses incurred or to be incurred by MLT in connection with the Australia and South Korea acquisitions and the private placement.

As at Mar 31, MLT's gearing stands at 66.1%.

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/company-news/leader-environmental-technologies-sells-stake-jilin-anjie-environmental?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Leader Environmental Technologies sells stake in Jilin Anjie Environmental Engineering for RMB6.6 mil</a></b></span>

Units in MLT last traded at $1.74 on Apr 10.

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