champion-secures-financing-for-langham-acquisition

Champion secures financing for Langham acquisition

The $600 million CB and the $380 million equity placement are both priced at best terms for investors.
Champion Real Estate Investment Trust has succeeded in raising the HK$12.9 billion $1.6 billion it needs to pay for the earlier announced acquisition of Langham Place, a retail and office complex in Hong KongÆs Mong Kok district, that will increase its asset value by more than 50% and position it as one of largest Reits in the region in terms of market value.

The two most crucial parts of the financing package û a $380 million equity placement and a $600 million convertible bond û were completed yesterday morning Hong Kong time after a bookbuilding exercise that lasted through the night. The trust is also issuing $361 million worth of new units to Hong...
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