AIMSAMPI Reit - Acquisition of 29 Woodlands Industrial Park E1 and Launch of Private Placement

Acquisition of 29 Woodlands Industrial Park E1 and Launch of Private Placement:

• Press Release

Key Points

• Acquisition of a property located at 29 Woodlands Industrial Park E1, Singapore 757716 at the purchase consideration of S$72.0 million.
• Private placement of 219,989,907 new units to institutional and other investors at an issue price of between S$0.1976 (the “Minimum Issue Price”) and S$0.2041 per New Unit (the “Issue Price Range”) pursuant to Section 302C of the Securities and Futures Act (Cap. 289) to raise gross proceeds of between S$43.5 million and S$44.9 million (the “Private Placement”). Based on the Issue Price Range,
  the net proceeds from the Private Placement will range from approximately S$42.0 million to S$43.4 million, after deducting for the underwriting, selling and management fee as well as other estimated fees and expenses (including professional fees and expenses) incurred in connection with the Private Placement.
• In connection with the Acquisition, the Trustee has on 11 February 2011 accepted a commitment letter from Standard Chartered Bank (“SCB”) for new loan facilities in an aggregate amount of up to S$45.0 million, comprising a three-year secured term loan facility and a one-year revolving credit facility, made available to AIMSAMPIREIT by SCB.
• The Total Acquisition Cost will be partly funded by the net proceeds from the Private Placement with the remainder to be drawn down and financed by a partial draw-down from the Existing Loan Facility as well as a partial draw-down on the Acquisition Loan Facility.
• In connection with the Private Placement, the Manager intends to declare in respect of the Units in issue immediately prior to the issue of the New Units (“Existing Units”), a distribution of the distributable income of AIMSAMPIREIT for the period from 1 January 2011 to the day immediately prior to the date the New Units are issued pursuant to the Private Placement (the “Advanced Distribution”).

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