28 March 2019
Macfarlanes advises Supermarket Income REIT plc on follow-on fundraising under £150m share issuance programme
Macfarlanes has advised supermarket real estate investor Supermarket Income REIT plc on its £45m Specialist Fund Segment follow-on fundraising. The fundraising was made as part of the share issuance programme initiated by the company in April 2018.
Against a backdrop of a challenging market, the company upsized its fundraise from an initial target of £25m due to investor demand. This fundraise gives the company a total market capitalisation of well over £200m.
The Macfarlanes team was led by corporate and M&A partner Robert Boyle with assistance from senior counsel Mark Slade and solicitor Alex Critchley. Tax advice was provided by partner Jeremy Moncrieff.
Robert Boyle comments: “We are delighted to have had the opportunity to continue our work for Supermarket Income REIT, for whom we acted on its IPO, as well as its £65m fundraise in May 2018 under the same share issuance programme.”
