ARF 1.56% $3.79 arena reit.

News: ARF Arena REIT No 1 Says Undertaking A Fully Underwritten A$50 Mln Institutional Placement

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    June 2 (Reuters) - Arena Reit No 1 (ARF) :

    • ANNOUNCES UNDERTAKING A FULLY UNDERWRITTEN A$50 MILLION INSTITUTIONAL PLACEMENT
    • FY20 DISTRIBUTION GUIDANCE OF 13.9 TO 14.0 CENTS PER SECURITY
    • UNDERTAKING INSTITUTIONAL PLACEMENT AT A$2.28 PER NEW STAPLED SECURITY
    • ISSUE PRICE OF A$2.28 PER NEW STAPLED SECURITY
    • OFFERING NON-UNDERWRITTEN SECURITY PURCHASE PLAN TO RAISE UP TO A$10 MILLION
    • PIPELINE OF 20 DEVELOPMENT PROJECTS AT A FORECAST COST OF $112 MILLION WITH $67 MILLION OF CAPEX OUTSTANDING
    • EXPECTS TO PAY FINAL FY20 DISTRIBUTION FOR SECOND HALF IN RANGE OF 6.75 TO 6.85 CENTS PER SECURITY
    • DEVELOPMENT PIPELINE OF 20 PROJECTS AT TOTAL FORECAST COST OF $112 MILLION OVER NEXT 18 MONTHS
    • INSTITUTIONAL PLACEMENT TO REDUCE PRO FORMA 31 DEC 2019 GEARING TO 17.6%
 
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