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MIRVAC GROUP — Capital/Financing Update 2013
May 12, 2013
65328_rns_2013-05-12_d37049d9-96be-44ff-98d8-ffa440e4ca4a.pdf
Capital/Financing Update
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13 May 2013
$400 MILLION PLACEMENT SUCCESSFULLY COMPLETED
Mirvac Group (" Mirvac ") [ASX: MGR] announces the successful completion of its fully underwritten $400 million institutional placement (the “ Placement ”) to largely fund the acquisition of a select portfolio of office assets from GE Real Estate Investments Australia (“ GE ”) as announced on 10 May 2013.
Institutional investors were issued approximately 236.7 million stapled securities under the Placement at $1.69 per stapled security.
Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz said, “We are very pleased with the outcome of the Placement which closed multiple times oversubscribed. We see the support as a strong endorsement of the vision we set for Mirvac at our ‘investor day’ last week and the quality of the transaction itself.”
The stapled securities issued under the Placement will settle on 16 May 2013, with allotment to occur on 17 May 2013 from which time they will rank equally with existing Mirvac stapled securities. Macquarie Capital (Australia) Limited acted as sole underwriter, lead manager and bookrunner for the Placement.
In addition to the Placement, Mirvac intends to provide eligible securityholders with registered addresses in Australia or New Zealand on the register at 7:00 pm (AEST) on 9 May 2013 with the opportunity to acquire up to $15,000 Mirvac stapled securities under a Security Purchase Plan (“ SPP ”).[1] Stapled securities issued under the SPP will be offered at $1.69 per stapled security, being the same price paid by institutional investors under the Placement.
Further information regarding the SPP will be mailed to eligible securityholders on or around 24 May 2013.
For more information, please contact:
Investor enquiries: Media enquiries Jessica O’Brien Marie Festa Group General Manager, Investor Relations Group Executive, External Affairs +61 2 9080 8458 +61 2 9080 8956
1 This will be subject to Mirvac’s absolute discretion to scale-back applications under the SPP.
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