UK's Landsec falls on £500 mln equity raise to fund Metrocentre deal

** Shares of British commercial property company Land Securities LAND.L down ~2% at 162.5p

** LAND agrees to buy the Metrocentre shopping centre near Newcastle and would fund the deal through a £500 million ($663.15 million) equity issue and existing debt

** Company also agrees on terms for a separate acquisition worth about £100 million to further consolidate its existing retail portfolio but gave no further details about the acquisition

** YTD, stock down ~2%

($1 = 0.7540 pounds)