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Secure Income REIT raises £140M from share placement

Secure IncomeREIT Plc raised gross proceeds of £140.0 million in a "veryheavily oversubscribed" share placement.

The REIT issued 46,885,466 shares at 298.6 pence apiece,which are expected to trade on London's AIM Oct. 6.

The shares will be credited as fully paid and will rank paripassu with the company's existing ordinary shares.

The proceeds will be used to help finance its £196.2 millionacquisition of 55 Travelodge hotels. An additional £60 million securedfixed-rate, seven-year non-recourse credit facility from M&G will also helpfund the acquisition, according to a release.

Stifel Nicolaus Europe Ltd. was the sole book runner of theplacing.