AIMSAMPReit Completes acquisition of 27 Penjuru lane - 15 OCT 2010

Completion of the acquisition of 27 Penjuru lane by AIMS AMP Capital Industrial Reit, drawdown of new loan and use of proceeds of the rights issue. See press release.

Key Points

• The acquisition of 27 Penjuru Lane by AIMS AMP Capital Industrial REIT has been completed today.
• The total cost of the Acquisition is approximately S$163.1 million, comprising:
• the purchase consideration of S$161.0 million
• the acquisition fee payable to the Manager for the Acquisition which amounts to S$1.6 milliion
• the estimated professional and other fees and expenses incurred or to be incurred in connection with the Acquisition which amount to approximately S$0.5 million.
• The Manager has paid the Purchase Consideration from a combination of debt financing and proceeds from the Rights Issue.
• Further to the acceptance of a letter of commitment for a new debt facility of S$280.0 million by the trustee on 20 August 2010 from Standard Chartered Bank (“SCB”), the Commonwealth Bank of Australia (“CBA”), and United Overseas Bank Limited (“UOB”), the Manager has drawn down S$272.0 million of the New Loan:
• S$97.0 million has been used to part finance the Purchase Consideration.
• S$175.0 million has been used to fully refinance the loan of S$175.0 million owing under the facility agreement dated 5 November 2009 and made between, inter alia, the Trustee, SCB, CBA and National Australia Bank Limited.