mapletree-logistics-trust-taps-institutions-for-208-million

Mapletree Logistics Trust taps institutions for $208 million

The placement is 12.5 times oversubscribed as Mapletree raises funds to finance yield accretive acquisitions. The retail portion of the sale follows today.
Mapletree Logistics Trust yesterday completed the institutional portion of a follow-on unit sale to raise cash for a large-scale acquisition and re-financing exercise, raising S$320.7 million $208 million.

The placement met with strong demand, which allowed joint bookrunners DBS, Deutsche Bank and UBS to fix the price at the top end of the S$1.13 to S$1.18 range. This in turn meant that Mapletree, a Singapore-listed real estate investment trust that invests in logistics properties around Asia, sold 271.8 million units to institutional players.

The number of units was a direct function of the final price as the trust had approval only to raise S$349 million. The rest of that sum will come from...
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