SCP has announced the successful completion of a fully underwritten institutional placement of $80m. The Placement was oversubscribed, and the placement was upsized $30m to $80m. Proceeds will be used to fund 3 shopping centres in Tasmania, and Mount Warren Park in Queensland.

The transaction is expected to be neutral FY15, and approximately 1.6% accretive to FY16 Distributable Earnings. Approximately 39.6m new units will be issued to institutional investors at a fixed price of $2.02, representing a 5.2% discount to the closing price on 10 June 2015.

Goldman Sachs and Moelis & Company acted as joint lead managers, bookrunners, and underwriters of the placement. Get further information…