Centuria Property Trust Announces Initial Public Offering
Centuria Property Trust announced the initial public offering of 215.3 million units at an issue price of $1.00 per unit. The offer is expected to raise $215.3 million for the fund. The purpose of the offer is to fund the redemption of the units in the fund held by the existing unit holders and cancellation of the existing unit option, which will result in applicants under the offer holding 100% of the units in the fund; fund payment to the existing unit holders and their associated entities in connection with the pre listing arrangements for the fund; refinance the existing bank debt of the fund; and meet the costs of structuring the transaction and the offer, using offer proceeds and drawdowns under the new debt facility.
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