Lendlease REIT proposes $270m private placement

Issue price of $0.697 and $0.616 per new unit to raise the $270m proceeds.

Lendlease Global Commercial Trust Management Pte. Ltd., proposed a private placement of new units in Lendlease Global Commercial REIT to raise proceeds of up to $270m, at an issue price of $0.597 and $0.616 per new unit.

Of the proceeds, Lendlease REIT will use $234.3m or approximately 86.8% to finance the sale units consideration and sale shares consideration, according to a bourse filing.

It will use $29.4m or 10.9% of the gross proceeds will be used to pare down existing debt, whilst $6.3m or 2.3% will fund the estimated professional and other fees and expenses incurred or to be incurred by Lendlease REIT during the private placement.

Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd., and Oversea-Chinese Banking Corporation Limited were appointed as the joint global coordinators, bookrunners, and underwriters for the private placement.

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Lendlease Global Commercial REIT

Lendlease Global Commercial Trust Management Pte. Ltd.

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