Fortune Reit raising debt, equity to fund rare acquisition

Fortune Real Estate Investment Trust announced a HK$3.1bn loan and HK$1.9bn rights issue on Monday, raising funds for a big acquisition at a time when other Asian Reits are still struggling to restructure their balance sheets.

  • 26 Aug 2009
Fortune Reit’s expansion is supported by a HK$3.1bn loan that will be arranged by DBS and Standard Chartered, and a HK$1.9bn one-for-one rights issue fully underwritten by the same two banks. It will use the proceeds to finance the acquisition of three shopping centres in Hong Kong and ...

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