SPHReit said it will make some 308.9mil units available under the offering tranche at 85 cents to 90 cents each,subject to an over‐allotment option of 56mil shares. No indicative dates were provided for the listing of SPHReit. The Reit's manager also intends to draw upon a secured term loan facility of $975mil when it lists, of between $850mil and $975mil. The money raise will mainly be used to pay SPH for the acquisition of the two properties in SPH Reit's portfolio, which are valued at around $3.07bil.

Source: The Business Times / Bloomberg / Straits Times