Charter hall completes equity raising for Rosebud Plaza acquisition

November 24
10:54 PM 2013

Charter Hall Retail REIT completed a fully underwritten institutional placement of USD80 million. The amount will be used to partially fund the company's acquisition of Rosebud Plaza, a shopping centre in Melbourne. This was according to a report published by Business Spectator.

Charter hall told the Australian Securities Exchange that is issued around 21.1 million units were issued to institutional investors. Each unit was given a fixed price of USD3.80, the report said.

According to Charter Hall, Citigroup Global Markets Australia Pty Ltd had fully underwritten the USD80 million placement. Charter Hall also said Macquarie Capital (Australia) Ltd acted as joint lead managers, bookrunners and underwriters in the transaction, said the report.

The units issued to investors will settle on November 27. Allotment will occur on November 28, the report added.

Last week, Charter Hall agreed to purchase Rosebud Plaza for USD100 million. The said amount does not include transaction costs, Business Spectator reported.

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