Swiss Life REF (CH) Swiss Properties raises 500 million
Swiss Life REF (CH) Swiss Properties raised around CHF 500 million in its capital increase, making it one of the largest capital increases by a listed real estate fund in Switzerland to date, according to Swiss Life.
The capital increase carried out for Swiss Life REF (CH) Swiss Properties has met with great interest, Swiss Life Asset Managers reports. The issue volume amounted to around CHF 500 million, corresponding to a subscription rate of 100%.
At a subscription ratio of 2:1, 4.5 million units were issued at CHF 111.20 each, according to Swiss Life Asset Managers. After the payment, 13.5 million units with net assets of 1.46 billion will be in circulation.
The fund intends to use the newly raised capital to finance the purchase of a portfolio of 46 properties with a volume of around 512 million. As a result, Swiss Life REF (CH) Swiss Properties now holds 138 properties with a market value of around 1.95 billion - making it one of the ten largest real estate funds in the listed sector. (ah)
