Allco REIT announced that it has utilised a further amount of approximately S$57.0 million from the net proceeds of the Rights Issue to repay existing debt.
Approximately S$55.0 million has been used for the early redemption of Loan Notes issued under the S$234.0 million Loan Note Subscription Agreement entered into on 22 March 2006 (as set out in the Circular).
In addition, approximately S$2.0 million has been used for the prepayment of the S$12.0 million Revolving Loan Agreement entered into on 23 April 2007.
The balance amount of approximately S$5.7 million from the net proceeds of the Rights Issue will be utilised for other general corporate and working capital purposes and outstanding cash acquisition related costs for the purchase of the Centrelink Property.
Last done price: $1.22 SGD
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