CDL Hospitality Trusts is currently my top position in the portfolio so I am inclined to write about the news they have announced today. The Trust announces two big news - the first being the acquisition of the Pullman Hotel in Germany, which amounted to about S$160m and will be fully funded by debt facility. The second short after being the launch of the renouncable rights issue amounting to a gross proceeds of S$255m to lower their gearing and improve their balance sheet. This is quite an interesting news because it's the first time I've seen a Reit doing this 2 layer set up announced on the same day. Usually, the Reit will be inclined to announce the acquisition first, and then subsequently followed by the method of funding a few weeks/months later. What essentially happens is that the Trust is raising more proceeds to cover the acquisitions, and there ......