Corio announced the completion on Friday of a EUR 600 mln equity issue to help pay for its EUR 1.3 bn purchase of operating shopping centres and mall projects from Multi Corporation.

Corio announced the completion on Friday of a EUR 600 mln equity issue to help pay for its EUR 1.3 bn purchase of operating shopping centres and mall projects from Multi Corporation.

In total, the issue on Thursday comprised 13.3 million new ordinary shares at a price of EUR 45.00 per share. The issue price represented a 3.2% discount to the closing price of Corio shares on Euronext Amsterdam on 24 March. Application will be made to list the new shares on Euronext Amsterdam and Euronext Paris.

APG Algemene Pensioen Groep, acting in its capacity of Dutch pension fund asset manager, participated in the offering pro-rata to its holding of 36.8%.

Corio said it intends to use EUR 450 mln of the net proceeds to finance the announced acquisition of part of Multi Corporation's portfolio. The remaining net proceeds will be used to finance in part existing and future pipeline projects and for general corporate purposes.

J.P. Morgan Securities Ltd. (J.P. Morgan) acted as the sole global coordinator for the offering and, together with Royal Bank of Scotland and Deutsche Bank as joint bookrunner. BNP Paribas, ING Bank and Kempen & Co acted as joint lead managers.

Click on the link below to read more about Corio's acquisition from Multi.