Centuria Capital Group is launching a $100m equity raising.
The raise includes a 1 for 15 share non-renounceable entitlement offer worth $80.5m and a $19.5m underwritten institutional placement.
Working on the raise is Moelis Australia and Shaw and Partners.
Shares are being sold at $2.25 each, representing a 1.7 per cent discount to the last closing price of $2.29.
The funds are being used to pay down $39.5m of debt and for other capital management initiatives.
These include funding flexibility to execute new transaction opportunities, including underwriting support for the Visy Facility acquisition.
In a term sheet, investors were also told that the group had increased its operating earnings per security guidance for the 2021 financial year to 11.5 to 12.5 cents per security, which is 9.1 per cent higher than previous guidance.
The fiscal 2021 guidance for distributions per security has increased to 9c per security, up 5.9 per cent from earlier.
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