CMS advises joint bookrunners on Supermarket Income REIT’s £100m equity raise

CMS has advised Goldman Sachs, Peel Hunt and Stifel, as joint bookrunners, on Supermarket Income REIT plc’s successful £100m placing and retail offer.

The equity issue comprised an institutional placing in the UK, a placing to qualifying investors in South Africa and a retail offer in the UK through the RetailBook platform.

Supermarket Income REIT will use the proceeds to support its acquisition strategy, including the acquisition of three supermarkets in Manchester, Edinburgh and Halifax for approximately £118m. The company has a further pipeline of six UK grocery assets valued at approximately £98m. The proposed acquisitions form part of the company’s ambitions to double the size of its portfolio.

Jack Shepherd, CMS Corporate Partner, commented: “We are delighted to have advised Goldman Sachs, Peel Hunt and Stifel on this significant equity raise for Supermarket Income REIT. The transaction demonstrates the ability of high-quality listed businesses to access the equity capital markets in support of compelling growth opportunities. It was a pleasure working with the joint bookrunners and their teams to deliver this successful transaction, and we hope it encourages other companies in the sector to take advantage of the capital available.”

The CMS team was led by Jack Shepherd and included Jennifer Gray, Hannah Brash and Anna Compagnoni (Corporate).