COF Equity Raising for $201 million to purchase assets ($273.1 million) will mean COF’s portfolio WALE increases to 4.5 years (from 4.3 years) and average building age reduces to 15.5 years (from 16.8 years). 

It is a fully underwritten 1 for 6.4 accelerated non-renounceable entitlement offer to raise approximately $201.0 million (Equity Raising) at an issue price of $2.50 per unit (Issue Price), the offer is open for both Institutional and Retail holders.

Note the share price has actually dropped below the $2.50 (closed at $2.46 today), hence will not be participating - I have picked up shares on the market below the issue price.

FY22 guidance has also been reaffirmed:

• Funds from operations (FFO) of 18.0 cents per unit (cpu) reflecting a 7.2% yield on the Issue Price
• Distribution of 16.6 cpu, reflecting a 6.6% yield on the Issue Price.

Disclosure: Held