Why did the Centuria (ASX:CNI) share price drop today?

Centuria Capital Group (ASX: CNI) shares were edging lower today after the company announced a listed notes offer to the market. By the market’s close, the Centuria share price had slumped 0.21% lower to $2.405.

Shares in the real estate investment trust (REIT) have had a subdued start to the year, losing more than 7% since 4 January. In comparison, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 1% over the same period.

Listed noted offering

The Centuria share price was on the slide today after the company announced the offering of listed notes. Under the issuance, the company aims to raise $100 million, with the ability to raise more or less as required.

The offer will comprise three separate tranches. The first of these…