GLP raises $334m in follow-on

Demand for GLP J-Reit, which has a portfolio of 30 logistics facilities in Tokyo and Osaka, allowed the issuer to price units at a 2% discount to August 18's closing price.

GLP raises $334m in follow-on

The Japanese real estate investment trust of Singapore-listed Global Logistic Properties GLP raised Y34.5 billion $334 million in a follow-on offering on Wednesday.

GLP J-Reit, which has a portfolio of 30 logistics facilities in Japan, mostly in Tokyo and Osaka, sold 168,493 units in an international tranche and 124,538 to Japanese investors, according to a term sheet. All of the units on offer were primary.

Demand from both tranches allowed the issuer...

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