OUE C-Reit, IReit Global plan rights-loan combo for acquisitions

Singapore city 230px
By Rashmi Kumar
30 Jun 2015

OUE Commercial Real Estate Investment Trust (Reit), a well-known name in capital markets, is tapping its shareholder base for S$218.3m ($161.6m) via a nine-for-20 rights issue to fund its acquisition of One Raffles Place in Singapore.

The offering will consist of the issuance of 393.3m new rights units at S$0.555 each, according to a filing made with the Singapore Exchange. The pricing is a 31.5% discount to the last close of S$0.810 on June 29, and a 24.1% discount to the theoretical ex-rights price ...

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