REIT Financial News - 13 AUG 2010: Cambridge - Announcement of Acquisition and Private Placement

ACQUISITION OF 22 CHIN BEE DRIVE AND 1 & 2 CHANGI NORTH STREET 2
LAUNCH OF PRIVATE PLACEMENT OF 83,683,000 NEW UNITS
S$50.0 MILLION THREE-YEAR TERM LOAN FACILITY
See : Press Release

Key Points

• The trustee of CIT has entered into two separate Put and Call Option Agreements to acquire the Target Properties:



1. Deluge Fire Protection (S.E.A.) Pte Ltd in respect of the acquisition by CIT of the property located at 22 Chin Bee Drive, Singapore 619870 (22 Chin Bee Drive)
2. ETLA Limited in respect of the acquisition by CIT of the property located at 1 Changi North Street 2, Singapore 498808 and 2 Changi North Street 2, Singapore 498775 (1 & 2 Changi North Street 2)



• To raise gross proceeds of approximately S$40.0 million by issuing 83,683,000 new units in CIT by way of a private placement to:



• institutional and other investors at an issue price of S$0.478 per New Unit 
• at an issue price of S$0.503 per New Unit to the Oxley Group and Mitsui & Co., Ltd.



• The Trustee has today entered into a facility agreement with National Australia Bank Limited ("NAB") pursuant to which NAB will make available to the Trustee a S$50.0 million three-year secured term loan facility (the “Acquisition Term Loan Facility”) and a S$20.0 million secured revolving credit facility of same tenor (the “Revolving Credit Facility”).