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Suntec Reit to place out new units to raise $350 million to pay off debt

Published on Mar 18, 2014 9:26 PM

Suntec Reit is placing out up to 222.2 million new units to raise some $350 million.

The units will be placed to institutional investors at between $1.575 and $1.615 apiece.

They represent a discount of 4.07 per cent and 6.47 per cent to the volume weighted average price of $1.6839 on March 18.

The final price will be determined following a book-building exercise.

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