Merlin Properties Trims IPO to €1.25 Bn As Interest Cools Down

27/06/2014 – Bloomberg

Facing diminishing apetitte of property investors, new Spanish Socimi (REIT-alike firm) Merlin Properties felt obliged to decrease the amount of its initial public offering to €1.25 billion, instead of originally planned €1.5 billion.

The trust will trade 125 million shares at 10 Euros each. It has already raised €600 million in committed funds from Moore Capital Management LLC, among other investors. 

As per the information provided by debt-restructuring company Irea, private equity and other financial institutions more than doubled their investment in Spain in 2013, reaching €13.9 billion

Credit Suisse Group AG (CSGN), UBS AG and Deutsche Bank AG coordinate and underwrite Merlin’s IPO. Freshfields Bruckhaus Deringer LLP act as legal advisors.


Original article: Bloomberg (by Ruth David)

Summary: AURA REE