Tag: reit

The innovatively structured deal gets a triple-A rating from both Moody's and S&P, allowing the Singapore-listed trust to achieve a coupon of just 1.6%. The property developer blames market conditions for the withdrawal of its IPO, which had been due to price last Friday. The Singapore-listed Chinese developer raises $111 million, while K-Reit Asia pockets $444 million from a rights issue that was oversubscribed despite a tight discount. MacarthurCook Industrial Reit raises $155.5 million in new capital, including a $15.8 million investment by AMP and a $111 million rights issue. Separately, AMP Capital hires ... Singapore-listed Fortune Reit will add three more shopping centres to its portfolio of Hong Kong retail properties at a total cost of $270 million. Starhill Global Reit receives applications for 129.3% of the rights units available in the offering. The latest placement brings the total raised by A-Reit this year to $485 million. Starhill Global Reit, which is controlled by Malaysia's YTL Corp, is seeking to raise $232 million from a one-for-one rights offering, following the fund-raising examples set ... CapitaLand seeks S$1.84 billion, while CapitaMall Trust targets S$1.23 billion. The industrial Reit raises $201 million from a well-received placement that will be followed by a $75 million preferential offering. The Malaysian developer pays $189 million for 26% of Macquarie Prime Reit and 50% of its management company, in the largest Singapore Reit M&A deal to date. The private equity firm aims to acquire up to 48.4% in Re-plus Residential Reit through an investment package that will also provide the Reit with fresh capital. The Japanese trust issues the fourth-largest domestic follow-on offering this year in an effort to stabilise its debt levels. A unit of Fraser and Neave takes effective control of Singapore-listed Allco Commercial Reit and cancels plans to list its own commercial real estate trust. The Reit-like vehicle, which invests in Indian properties, is able to raise $193 million after attracting 30 to 35 institutional investors and 1.4 times the order amount it needed. The India-focused property trust sets the IPO price range at S$1.00-S$1.10 for a total deal size of up to $213 million. Singapore's largest Reit raises $478 million and achieves favourable terms by using a newly acquired property as security for the bonds. The trust could raise about $190 million based on an assumed offering price of S$1 per unit and become only the second Singapore property trust to offer exposure to India. The Singapore-listed CapitaCommercial Trust issues $203 million worth of convertible bonds that are priced at the wide end of terms. Terms are fixed at the wide end, but the deal gets done without any credit bid or stock borrow.