This Circular follows the previously announced proposed acquisition of one-third stake in MBFC dated 26 Oct 2010. More details of the financing are provided in the circular.
Key Points
- The $1495.8m ($1548.2m total cost) purchase of MBFC would be financed by a $1105m loan facility and a $428.2m private placement of new units.
- Pricing of the new units will be revealed at a later date.
- After the acquisition, the gearing will rise from 33% to 41.5% but will fall to 37.3% with the intended repayment of shareholders' loan from ORQ.
SUNTEC Reit proposed acquisition of a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall - 26 OCT 2010
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