Multiplex SITES to be redeemed?

05 March 2019

 

Don’t be surprised if Multiplex SITES (ASX code: MXUPA) are redeemed later this year. In a recent investor update, Brookfield, the Canadian parent company of Multiplex, said a sale of properties held by the Brookfield Australia Property Trust (BAPT), the downstream recipient of the funds raised by the SITES issue, may result in their redemption. Multiplex’s Step-up Income-distributing Trust-issued Exchangeable Securities (SITES) were issued in 2005. The proceeds were loaned...

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