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BRIEF-Aventus Retail Property Fund acquires two large format retail centres

Published 30/05/2017, 10:03 am
© Reuters. BRIEF-Aventus Retail Property Fund acquires two large format retail centres
AVN
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May 30 (Reuters) - Aventus Retail Property Fund AVN.AX

* Entered into an unconditional agreement to acquire two large format retail centres located in metropolitan sydney for $436 million

* Transaction is not expected to have a material impact on fund in FY17 with FFO per unit expected to be 17.7 cents

* FY18 FFO per unit is expected to be 2% to 4% higher than FY17, including impact of transaction

* Undertaking an underwritten 1 for 4.3 accelerated non-renounceable entitlement offer of units in the fund

* Non-renounceable entitlement offer at a fixed issue price of $2.326 per unit to raise $215 million

* Proceeds from equity raising to be used to partially fund acquisition, with balance funded through a $300 million increase in existing debt facility Source text for Eikon: Further company coverage: AVN.AX

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