Capital increase for CS REF LogisticsPlus
The real estate fund Credit Suisse Real Estate Fund LogisticsPlus (CS REF LogisticsPlus) is conducting a capital increase from February 27 to March 10, 2017. The volume is expected to reach up to CHF 103 million.
The capital increase for CS REF LogisticsPlus was announced in December 2016. As Credit Suisse announced on Wednesday, it will now be carried out at the end of February.
One subscription right will be allocated to each existing share and two subscription rights will entitle the holder to subscribe to one new share. A maximum of one million new shares will be issued. The issue price per share is CHF 103 net with a net asset value of CHF 101.83 per share. The issue thus has a volume of up to CHF 103 million.
A regular, off-exchange rights trading will take place from February 27 to March 8, 2017 via Credit Suisse. Unsubscribed shares may not be issued, which would change the issue amount. The effective number of new shares to be issued is to be announced on March 16, 2017. The payment will take place on March 17, 2017.
The proceeds from the issue will be used to further expand and diversify the real estate portfolio of CS REF LogisticsPlus, according to Credit Suisse. The logistics site in Derendingen (SO), which is still under construction, will be leased to DHL Logistics (Schweiz) AG for ten years after completion in summer 2017. In addition, an as-new logistics property with a long-term lease is to be acquired as of April 1, 2017. Purchase negotiations are underway for further properties and projects, according to the fund management.
CS REF LogisticsPlus invests in logistics and logistics-related real estate in Switzerland and is aimed at qualified investors.
