LONDON (Alliance News) - Globalworth Real Estate Investments Ltd Wednesday said it has raised EUR144 million in a previously announced fundraising which it will use to repay debt, fund projects currently in its portfolio, and put toward future investments.
The investment company said it raised EUR79 million by way of an equity issuance at EUR5.90 per share and completed the transfer of a EUR65 million facility from UBS to its institutional advisors, York Capital Management and Oak Hill Advisors.
The company said the EUR65 million facility will convert to shares on December 18, also EUR5.90 per share.
Globalworth shares closed down 1.7% at EUR5.90 Wednesday.
The firm said the funds raised will be partially invested for the development of projects currently owned by the company, the acquisition of new real estate opportunities, and the repayment of the EUR65 million facility through the share conversion.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Globalworth (GWI)