Australian Leisure and Entertainment Property Group will debut on the ASX today.
Earlier this week, ALE completed a $570.8 million capital raising, paving the way for the acquisition 105 Fosters Group pubs around Australia.
The hotels will be run by the newly listed Australian Leisure and Hospitality.
The ALE funding program comprised a $90.8 million stapled securities issue, $150 million in ALE notes and a $330 million commercial backed mortgage securities issue.
The CMBS issue and the ALE notes, which closed last Friday, were finalised with a 6.524% weighted average cost of debt.
The group finalised the stapled securities issue yesterday with the allocation of $28.8 million in stapled securities to Macquarie Equity Capital Markets, as payment for its services as lead manager.
Total number of stapled securities on issue is 90.8 million after a successful public offering which closed late last week.
The portfolio includes Melbourne’s icon hotel Young & Jackson Hotel. The hotels are leased for an initial period of 25 years.
ALH made its debut on the ASX late last week.
