By a staff reporter
Charter Hall Retail REIT has completed its fully underwritten $80 million institutional placement to partially fund the acquisition of Melbourne shopping centre Rosebud Plaza.
In a statement to the Australian Securities Exchange, Charter Hall said approximately 21.1 million new units were issued to institutional investors at a fixed price of $3.80 per unit.
The placement was fully underwritten by Citigroup Global Markets Australia Pty Ltd and Macquarie Capital (Australia) Ltd who acted as joint lead managers, underwriters and bookrunners, Charter Hall said.
Units issued will settle on November 27, with allotment to occur on November 28.
The trust also intends to offer the opportunity to subscribe to its units under a unit purchase plan.
Charter Hall last week entered an agreement to buy Rosebud Plaza for $100 million, excluding transaction costs, and entered a trading halt pending the release on an announcement about the capital raising.