Ascendas REIT Raises S$452m via Private Placement

News about Ascendas REIT

Ascendas REIT has raised S$452 million through the private placement of 178 new units, at S$2.54 per unit.

Ascendas Reit said it will use S$250 million, or 55.3 per cent of gross proceeds, to partially fund the acquisition of a second UK logistics portfolio comprising 12 properties located in the UK. Some S$109 million, or 24.1 per cent of gross proceeds, will fund the development of a build-to-suit facility in Singapore.

The remainder will be split between funding debt repayment and future acquisitions, and paying fees and expenses incurred in connection with the private placement.

Ascendas REIT
Price3.130 SGD
NAV2.050 SGD
Yield (4 quarters)5.12%
Gearing37.2%