Tag Archives: Mapletree Logistics Trust

Mapletree Logistics Trust said on Tuesday its private placement to raise net proceeds of about S$78 million has been over-subscribed, with strong participation from both existing and new unit holders.

The new units were allocated to over 20 quality institutional investors from Asia, Australia, Europe and the US. About 80 per cent of the new units were allocated to long-only fundamental investors.

The issue price per new unit has been fixed at 69 cents, which is at the lower end of its price range.

On Monday, Mapletree said it is offering 115 million new units at a price of between 69 and 71 cents per unit. The money will be used to finance two proposed acquisitions in Singapore.

Source : Channel NewsAsia – 10 Nov 2009

Mapletree Logistics Trust said Monday it is raising net proceeds of about S$78 million in a private placement.

It is offering 115 million new units at a price of between 69 and 71 Singapore cents per unit.

The net proceeds will be used to finance two proposed acquisitions in Singapore amounting to S$78 million.

One of the acquisitions is a six-storey warehouse facility in the west of Singapore for S$43 million.

The second acquisition is a S$34-million multi-storey warehouse in the east of Singapore.

Both properties will be leased back to their vendors.

The manager of MapletreeLog said the tenants are of high quality and add to the stability of the REIT’s rental income.

The acquisitions will be accretive to MapletreeLog’s distribution per unit.

The manager said financing these acquisitions with equity will create sufficient debt headroom, and the company intends to use that to fund a third acquisition – a S$68-million warehouse facility in Japan.

Source : Channel NewsAsia – 9 Nov 2009