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Charter Hall Long WALE closes A$60M placement of new securities

Charter Hall Long WALE REIT closed its fully underwritten institutional placement of approximately 14.9 million new securities issued at A$4.04 apiece to raise A$60 million.

The new securities will settle Oct. 22, and the company will use the proceeds to partly fund its acquisitions of the National Archives property in Sydney and a 50% interest in BlackRock Inc.'s Optima Centre office campus in Perth, Australia.

Charter Hall also aims to raise up to A$20 million via a non-underwritten security purchase plan. The company will invite eligible security holders in Australia and New Zealand to subscribe for up to A$15,000 of new securities, with the securities to be offered at A$4.04 apiece.