MIRVAC (MGR) $750 MILLION PLACEMENT

MIRVAC (MGR) $750 MILLION PLACEMENT

May 29, 2019 admin Equity, Investment Opps, Property 0 Comment

Mirvac Group today announces that it is undertaking an equity raising comprising:

- a fully underwritten institutional placement to raise $750 million (“Placement”); and

- a non-underwritten security purchase plan to raise up to $75 million (“SPP”).

The Equity Raising is being undertaken to support the delivery of the next generation of value accretive office, industrial, residential and mixed-use projects, repay debt and replenish funding for its existing development pipeline. It will provide additional funding flexibility, enabling Mirvac to continue investing through the cycle, with the objective of delivering strong, visible and secure cash flows, sustainable distribution growth and attractive rolling average return on invested capital above the Group’s cost of capital.

For more information please see www.mirvac.com 

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