CS REF International generates proceeds of almost 240 million
Credit Suisse fund CS REF International raised CHF 239.2 million in its capital increase.
This means that CS REF International has received new money in the amount of the maximum amount, Credit Suisse says. The proceeds of the issue will be used for the further expansion and diversification of the real estate portfolio. Following the capital measure, there are now more than 2.5 million fund units in circulation, and net fund assets stand at 2.59 billion.
The issue was carried out on a commission basis ("best-effort basis") as part of a rights offering in Switzerland. With a subscription ratio of ten to one, 228,897 new shares were issued at an issue price of CHF 1.045 net per share. This corresponds to a subscription rate of 100 percent.
The regular, off-market trading of subscription rights took place from May 29 to June 7, 2017 via Credit Suisse (Schweiz) AG. The new shares were paid on June 16.
CS REF International invests directly in real estate worldwide, with an investment focus on commercially used, good-quality properties in attractive locations in Europe, the Asia-Pacific region and North, Central and South America.
