Swiss real estate company PSP Swiss Property plans to increase its capital by issuing 1.8m registered shares with a nominal value of €66 (SFr100) each.
The capital will finance the firm’s acquisitions and fund future growth strategy. The issue will increase the company’s equity ratio to 60%.
Since March 2000 PSP’s portfolio has gone from 94 properties to 120, after acquisitions of €381.7m (SFr580m). Recent buys include the Swisscom portfolio, bought for €259.3m (SFr394m).
Global co-ordinator and sole bookrunner for the transaction is JP Morgan, with Société Générale, Swiss Capital Group, Rud Blass & Cie and Kempen & Co acting as syndicate members.
