BABCOCK & Brown Japan Property Trust has cancelled the underwriting of the cividend reinvestment plan for the February 2008 distribution.
Now BJT said a $35 million short-term bridge facility due at the end of February 2008 will be repaid from existing surplus cash and cash raised from the expected March closing of the Sun Building sale will be additional to the cash to be used to repay this bridge facility.
The DRP represents approximately 19% of units. Distributions of at least 6.33 cents per unit for the six months ended December 31 2007 are expected to be paid to shareholders.
Australian Property Journal
