Following the issuing of 244,681,000 private placement units in Frasers Centrepoint Trust (FCT), which raised gross proceeds of some $575.0 million, FCT’s manager announced on Oct 7 that it will be using some $405 million for its credit facilities and bank loans.
See: Frasers Centrepoint Trust raises $575 mil in private placement following announcement
About $325.0 million from the gross proceeds will be used for FCT’s revolving credit facilities, pending the deployment of the proceeds of the equity fund raising to fund the ARF purchase acquisition.
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