CICT completes acquisition of Paragon

The trust fully utilised the $750m raised through its private placement to help finance the deal.

CapitaLand Integrated Commercial Trust has completed its acquisition of Paragon, giving it full ownership of the freehold property through Paragon Trust and Orchard 290.

CICT also fully utilised the $750m in gross proceeds raised through its private placement.

Of the amount, $740.5m was used to partially finance the acquisition and related costs, whilst $9.5m was allocated to fees and expenses connected with the private placement.

Transaction-related expenses were $0.1m lower than initially expected, with the difference reallocated to the acquisition and associated costs.

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