Reuters, 6 May 2009, Sonali Paul
SYDNEY, May 7 (Reuters) - Australia's General Property Group (GPT.AX) is looking to raise up to A$1.67 billion ($1.24 billion), its second share sale in six months, to help pay down debt and get out of its joint venture with Babcock & Brown (BNB.AX), the group said on Thursday.
"This capital raising immediately addresses the key balance sheet issues currently facing GPT, namely gearing convenant headroom and liquidity," GPT chief executive Michael Cameron said in a statement.
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