private placement

CRCT in $279 mil private placement, preferential offering to help fund mall buys

SINGAPORE (Aug 2): The manager of CapitaLand Retail China Trust (CRCT) has proposed an equity fund raising to raise gross proceeds of between $273.4 million to $279.4 million.

The manager intends to use the gross proceeds from the equity fund raising to foot part of the $505.4 million bill for its proposed acquisition of three malls in China from sponsor CapitaLand.

FLT raises $258.1 mil through private placement to help fund new acquisitions

SINGAPORE (July 31): Frasers Logistics & Industrial Trust (FLT) has raised $258.1 million through a private placement to partially fund its proposed acquisitions of 12 logistics properties in Australia and Germany.

See: Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

CCT raises $220 mil from private placement for Frankfurt office acquisition

SINGAPORE (July 18): CapitaLand Commercial Trust has closed the book of orders for the private placement agreement signed and launched on Wednesday.

CCT’s manager says the placement managed to raise $220 million from the issue of some 105 million new units at $2.095 each.

The issue price represents a discount of 3.7% to the volume weighted average price (VWAP) of $2.1762 per unit for trades done on Wednesday.

It is also at the middle of the $2.043-$2.105 price range set out in the placement agreement.

Cromwell European REIT buys 6 properties in France, Poland for $378 mil; launches placement

SINGAPORE (June 21): The manager of Cromwell European REIT (CEREIT) is acquiring six freehold properties -- three in France and Poland each -- for a total of €246.9 million ($378 million) or €2,238 per sqm.

The French properties comprise three mainly office properties located in or near the major business districts of Ivry-sur-Seine, La Défense and Charles de Gaulle Étoile.

Meanwhile, the Polish properties comprise two predominantly office properties in Kraków and an office property in Poznań.

ESR-REIT kept at 'add' pending clarity on equity fund raising to revitalise portfolio, repay debt

SINGAPORE (June 19): CGS-CIMB Research is maintaining its forecasts on ESR-REIT “pending greater clarity” on details of an equity fund raising to raise up to $150 million.

The brokerage is keeping its “add” recommendation on ESR-REIT with an unchanged target price of 60 cents.

The manager of ESR-REIT earlier this week announced the proposed equity fund raising exercise.

ESR-REIT to issue 194 mil new units at 51.5 cents in private placement

SINGAPORE (June 18): Units in ESR-REIT took a tumble in morning trading on Tuesday after the manager announced that the price of some 194.2 million new units to be issued under a private placement has been fixed at 51.5 cents per unit.

The manager says the private placement saw strong participation from new and existing institutional and other investors. The upsize option has also been exercised in full, increasing the aggregate gross proceeds raised via the private placement to approximately $100 million.

ESR-REIT proposes equity fund raising to raise gross proceeds of up to $150 mil to finance property acquisition, AEIs

SINGAPORE (June 17): The manager of ESR-REIT has proposed an equity fund raising exercise to raise gross proceeds of up to $150 million.

Around $44.4 million, or 29.6% of the gross proceeds of the equity fund raising, will be used to fully finance ESR-REIT's acquisition of a property at 48 Pandan Road.

A further $56.8 million, or 37.9% of the gross proceeds of the equity fund raising, will be used for ESR-REIT’s debt repayment in relation to the proposed acquisition as well as proposed asset enhancement initiatives (AEIs).

Manulife US REIT acquires Virginia asset for US$122 mil; proposes US$94 mil private placement to fund deal

SINGAPORE (April 29): Manulife US REIT has agreed to acquire a freehold 11-storey Class ‘A’ office asset at the Washington Metropolitan area in Fairfax, Virginia, for a consideration of US$122 million ($166.1 million) from Carr Properties.

Comprising two towers dubbed Centrepointe I and II, the property is located along 4000 and 4050 Legato Road and features a total net lettable area (NLA) of 419,981 sq ft with 1,456 parking spaces.

Anchor Resources undertakes private placement to repay bond investors

SINGAPORE (Apr 9): Anchor Resources, the Malaysian goldmine operator, is selling 143.8 million new shares  at 1.53 cents each to 18 investors in a private placement to raise $2.15 million.

The issue price represents a discount of 10% to Anchor’s volume weighted average price of 1.7 cents for trades done on April 3, the full market day before its trading halt on April 4.

Mapletree Industrial Trust announces private placement to raise at least $175 mil

SINGAPORE (Feb 11): The manager of Mapletree Industrial Trust (MIT) has proposed a private placement to raise gross proceeds of at least $175 million to partly refinance the acquisition of 18 Tai Seng Street.

Some $172.1 million, or 98.3% of the gross proceeds of the private placement, will go towards refinancing for the acquisition of the property, which was completed on Feb 1. The remaining $2.9 million will be used to pay the estimated fees and expenses incurred in connection with the private placement.

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