Helvetica Swiss Commercial raises 48 million
The real estate fund Helvetica Swiss Commercial has completed its first capital increase. Investors subscribed for units worth CHF 48.2 million.
According to the fund management company Helvetica Property Investors AG, the funds received by Helvetica Swiss Commercial will be invested in real estate assets throughout Switzerland. In addition, the fund management intends to use the proceeds to reduce the fund's leverage ratio.
The capital increase was carried out on a "best effort basis" by way of a rights offering in Switzerland. No rights trading took place during the subscription period. With a subscription ratio of one to one (one subscription right entitled to purchase one new unit), 463,100 units were issued at an issue price of CHF 104 per unit during the subscription period, which ended on April 13, 2017, Helvetica Property Investors reports. The new units were paid on April 27, 2017, and as of this date, there are approximately 1.24 million over-the-counter units in circulation.
"Again, we will be able to invest the capital from the capital increase practically at the same time as the payment and in excellent quality properties," says Frederic Königsegg, CIO, Head Investments of the fund management company. The timely investment of capital in times of negative investment interest rates is of greater importance than ever before, Königsegg adds.
