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OUE Commercial REIT to raise $150 mil to pay down debt

PC Lee Published on Thu, Mar 09, 2017 / 10:59 AM GMT+8

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SINGAPORE (March 9): OUE Commercial REIT has launched a placement exercise to issue 233.3 million units at 64.3 cents each to raise gross proceeds of $150 million.

The issuance price represents 8.1% discount to the VWAP of 69.93 cents for the full market day on Wednesday.

The manager of the REIT says it will use the proceeds of $148.5 million to pay down debt.

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