Baloise Swiss Property Fund extends deadline for issue
With proceeds of CHF 118 million, the capital increase of the Baloise Swiss Property Fund is not quite at the finish line yet. The order book will be opened for another few days.
The fund management company Baloise Asset Management Ltd carried out the announced capital increase for the Baloise Swiss Property Fund from August 21 to August 29, 2023. Capital commitments amounting to CHF 118 million were made. This ensures that the properties planned in tranches 1 and 2 of the capital increase can be acquired, Baloise writes in a press release. To ensure that the announced maximum amount of CHF 135 million can be reached, the order book will be open until September 5.
With the funds raised so far, the fund will be able to acquire four residential properties in the cantons of Aargau, Schwyz, Solothurn and Vaud and reduce the debt ratio. "The fund management is convinced that the purchase of all five planned properties will further strengthen the earning power of the Baloise Swiss Property Fund and increase the quality of the overall portfolio," it says. In addition, including the additional funds, the debt ratio will be reduced to slightly over 19%.
Baloise had originally issued an issue target of up to CHF 200 million (IB reported). A total of eight Baloise Life properties were to be acquired. In July, Baloise reduced the size of the capital increase. (aw)
