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US Masters seeks up to A$300M from issue of convertible step-up preference units

US Masters Residential Property Fund is planning to issue up to three million convertible step-up preference units at A$100 apiece from Dec. 8 to Dec. 18.

The estimated proceeds of up to A$300 million will be used to fund the partial or full redemption of the company's URF Notes l series, as well as for general corporate purposes.