KEY POINTS
Redemption of Exchangeable Securities, Equity Raising and Earnings Update
Redemption of Exchangeable Securities
- GPT to redeem Exchangeable Securities owned by GIC for $325 million, plus accrued distribution.
Equity Raising
- Redemption to be funded with an equity raising, comprising a $325 million fully underwritten institutional placement and a non-underwritten security purchase plan
FY14 key financial results
- Funds From Operations (FFO) per security growth of 4.1%, in line with previous guidance
- Total return of 9.6% exceeding the Group target of 9%
2015 Guidance
- FFO per security growth of 5%
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