Mapletree raises $275m to buy HNA logistics assets

Singapore group raises equity to buy five warehouses from a unit of embattled Chinese conglomerate. It joins a number of Singaporean Reits and trusts in buying assets before further US rate hikes.

Mapletree Logistics Trust MLT raised S$375 million $275 million from a private placement of new investment units on Wednesday to fund the purchase of assets from debt-ridden Chinese conglomerate HNA Group.

The deal represents the latest significant expansion for MLT, which has grown steadily since listing in 2005. For HNA, it's another step back from a global acquisition spree that turned a regional airline into a global corporate empire.

Wednesday’s placement of 309.9 million new investment units was 2.4 times oversubscribed by institutional investors after being offered through an accelerated bookbuild after market close, MLT said in a statement. 

The trust...

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