Singapore’s Suntec REIT raises $147m via private placement

Singapore’s Suntec REIT raises $147m via private placement

Suntec Singapore photo from ARA Asset Management's website.

Singapore-listed Suntec Real Estate Investment Trust (Suntec REIT) has raised gross proceeds of approximately S$200 million ($146.79 million) in a private placement exercise.

The REIT intends to deploy nearly 84 per cent (S$167.5 million) of the proceeds to finance acquisition of properties, primarily in Australia. It will use the rest towards refinancing existing debt, capital expenditure and other asset enhancement initiatives.

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