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ALOG to use $23 mil of gross proceeds to repay loan

Felicia Tan
Felicia Tan12/31/2020 08:23 AM GMT+08  • 1 min read
ALOG to use $23 mil of gross proceeds to repay loan
The REIT’s private placement on Nov 3 raised some $50 million.
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The manager of ARA LOGOS Logistics Trust (ALOG) says it would utilise $23 million of the remaining gross proceeds of the private placement to repay the loan amount, which was previously drawn down from the REIT’s revolving credit facility.

See: ARA Logos Logistics Trust to raise $50 mil through private placement of 90.5 mil new units and ALOG's manager says Australian acquisition is positive for REIT

The revolving credit facility will be redrawn down for the purposes of partially financing the proposed acquisitions and fund investments. The manager says it will release an announcement when it occurs.

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