REIT Financial News - 13 AUG 2010: AIMS AMP Reit - Announcement of Acquisition and Private Placement

AIMS AMP Capital Industrial REIT announces proposed acquisition, new debt facility and fully underwritten renounceable rights issue. See:

• Press Release
• Report
• Presentation Slides

Key Points

• Proposed acquisition of a high-quality industrial property at 27 Penjuru Lane Singapore 609195 for S$161.0 million.
• New debt facility of S$280.0 million.
• Fully underwritten renounceable 7 for 20 rights issue to raise S$79.6 million.
• The Rights Issue Books Closure Date which is expected to be 5.00 p.m. on 20 September 2010.
• The Rights Units will be issued at a price of S$0.155 per Rights Unit, which is a discount of 32.6% to the closing price of S$0.230 per unit on 19 August 2010 and which is a discount of 26.5% to the theoretical ex-rights price (“TERP”) of S$0.211.
• The Manager expects to raise gross proceeds of S$79.6 million, of which:



• S$64.5 million will be used to part satisfy the total cash cost of the Acquisition.
• S$4.8 million will be used to pay for underwriting and selling commissions and professional and other fees and expenses.
• S$10.3 million will be used to pay for debt related costs and for general corporate and working capital purposes.



• As a demonstration of their support and commitment to the Trust, the Sponsors, AIMS Financial Group and AMP Capital Investors (Luxembourg No. 4) S.A.R.L., have committed to subscribe for their pro rata rights entitlements of 39,286,080 Rights Units and 82,500,000 Rights Units respectively.