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360 Capital Industrial Fund Announces Completion Of Equity Raising


Tuesday, 18 Jun 2013 03:38am EDT 

360 Capital Industrial Fund announced the completion of fully underwritten $24.3 million placement of new fully paid ordinary Units in the Fund (New Units) to institutional investors (Institutional Placement) with net proceeds used to fund the purchase of two high quality industrial properties (Acquisition) as announced in the Fund’s presentation this morning. Institutional investors will be issued approximately 48.6 million New Units under the Institutional Placement at $0.50 per Unit as determined by a bookbuild, which represents forecast fiscal 2014 distribution yield of 9.0%. Settlement under the Institutional Placement is expected to be completed on June 24, 2013, with New Units expected to be issued under the Institutional Placement, and able to be traded, on June 25, 2013. Moelis Australia Advisory Pty Ltd acted as the Sole Lead Manager, Bookrunner and Underwriter to the fully underwritten Institutional Placement. Settlement of the Acquisition is expected to occur prior to June 30, 2013. 

Company Quote

2.3
-0.03 -1.29%
26 Nov 2014