First Reit rights issue - Use of proceeds for MRCCC acquisition

First Reit rights issue - Use of proceeds for MRCCC acquisition:

• Press Release

Key Points

• Out of the net proceeds of the Rights Issue of S$167.3 million, S$121.7 million has been used towards part financing the MRCCC Acquisition. Such use is in accordance with the stated use and in accordance with the percentage of the net proceeds of the Rights Issue allocated to such use. 
• The remainder of the cost of the MRCCC Acquisition will be financed by way of a transferable term loan of up to S$50.0 million for a term of four years from Oversea-Chinese Banking Corporation Limited.

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