CitySpring Infrastructure Trust, a fund managed by Temasek, is seeking to raise $170.4 million in a rights issue, Reuters reports. The funds will be used to pre-pay or refinance some of its debt and strengthen its balance sheet.
Temasek, which owns about 28% of CitySpring, will subscribe for up to 85% of the rights issue. DBS Bank, Goldman Sachs and Morgan Stanley have underwriting commitment for the remaining 15%, adds TODAYonline.
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