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Cromwell European REIT to raise €90 mil through private placement

Felicia Tan
Felicia Tan2/24/2021 11:46 AM GMT+08  • 2 min read
Cromwell European REIT to raise €90 mil through private placement
The issue price equates to a FY2020 yield of 7.74% to 8.10% based on the REIT’s FY2020 DPU of 3.484 Euro cents.
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The manager of Cromwell European REIT (Cromwell EREIT) is seeking to raise gross proceeds of some €90 million ($144.5 million) through a proposed private placement of between 200 million and 209.3 million new units in the REIT.

The units will be launched at an issue price of between 43 Euro cents and 45 Euro cents per new unit.

The manager, on Feb 24, entered into a placement agreement in relation to the private placement with the underwriters, Citigroup Global Markets, DBS Bank and UBS AG.

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