Mapeley plans £85 million private placement of shares

By Sheri Kasprzak

New York, Sept. 28 - Mapeley Ltd. intends to raise £85 million in a private placement.

The terms of the offering will be determined in a book-building process, expected to wrap up on Oct. 5. The shares will be issued to institutional investors.

Lehman Brothers International (Europe) and Merrill Lynch International are joint bookrunners for the deal, and Deutsche Bank AG is a co-agent. The syndicate has a greenshoe for up to 10% of the offering size.

Proceeds from the deal will be used to refinance debt and make acquisitions.

London-based Mapeley is real estate company focused on ownership, acquisition and management of commercial properties in the United Kingdom.

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