Lendlease Reit's perp issue signals potential acquisition: CGS-CIMB

Singapore

A RECENT fundraising initiative by Lendlease Global Commercial Real Estate Investment Trust (LReit) could be a sign that an acquisition is on the way, said brokerage CGS-CIMB in a Tuesday report.

LReit had last month issued S$200 million in perpetual securities at 4.2 per cent per annum. The issue was upsized from S$150 million, with a tightened price from the initial guidance of 4.35 per cent, after strong demand led to oversubscription.