(Reuters) - Shopping Centres Australasia Property Group Re Ltd <SCP.AX> will acquire 10 shopping centres across the country for a combined purchase price of A$573 million ($412 million) from Vicinity Centres <VCX.AX>.
The deal will be funded through a capital raising and a new debt facility, the company said in a statement.
The shopping centres operator will conduct an institutional placement to raise about A$259 million, while A$365 million will be made available through debt.
Shopping Centres Australasia expects the deal to add more than 5 percent to annualised pro forma funds from operations (FFO) in fiscal year 2019, prompting it to raise its FFO guidance to 16.2 cents per unit from 15.6 cents per unit.
(Reporting by Aditya Soni in Bengaluru; editing by Richard Pullin)
