On 29 November 2004, Brookfield Multiplex Group announced an offer of up to four million Step-up Income-distributing Trust-issued Exchangeable Securities (Multiplex SITES) at an issue price of $100, to raise approximately $400 million, with the ability to accept oversubscriptions of up to a further $50 million.
Multiplex SITES were issued by Brookfield Multiplex Funds Management Limited as responsible entity of the Multiplex SITES Trust (Issuer). The net proceeds of the Multiplex SITES issue were used to refinance acquisition finance facilities relating to Brookfield Multiplex Group’s joint bid for Duelguide plc.