Swisscanto Fund issues new units
Swisscanto (CH) Real Estate Fund Swiss Commercial plans to issue new fund units in the amount of approximately CHF 74 million in November 2017.
The capital increase originally planned in May 2017 had been postponed due to uncertainties with the important tenant Stadler Rail in the Altenrhein industrial park. After Swisscanto was able to reach a follow-up solution with Stadler Rail in July - the extension of use until the end of 2020 - the capital increase will now be carried out next month. The conditions for this will be announced at the end of October.
According to Swisscanto's announcement, the capital increase is being carried out to raise additional funds to finance upcoming investments and to repay borrowed capital. The new capital will thus have an immediate effect on earnings. The increase in the fund's capital will be carried out while safeguarding the subscription rights of existing unit holders.
Launched in 2010, Swisscanto (CH) Real Estate Fund Swiss Commercial is a broadly diversified Swiss real estate fund with total assets of just under CHF 500 million. The fund invests primarily in commercially used properties throughout Switzerland. It has been listed on the SIX Swiss Exchange AG since November 2, 2015 and holds the properties directly. Distributions to investors are tax-free.
