TT Intl: To lift trading halt. Has signed an investment framework agreement with Lucrum Capital to raise $200m to complete the mega warehouse project Big Box in Jurong. Big Box will issue $200m under a secured medium term note programme at 12% and issue options to Lucrum to subscribe for up to 49% of Big Box. The first tranche of notes is est at $50m with subsequent tranches of $30m over 24 mths. Lucrum has undertaken to subscribe or procure subscription for the notes in full.
Big Box is located nxt to Jurong East MRT and TT Intl will lease the completed building from Big Box for initial 20 yrs to serve as its regional headquarters and training centre. TT Intl is currently in a negative equity position and posted losses most recently.
No comments:
Post a Comment