CapitaLand raises S$750 million from upsized CB

The proceeds will be used mainly to finance a tender offer for three of its outstanding convertible bonds – its second such offer in just four months.

CapitaLand raises S$750 million from upsized CB

CapitaLand, a Singapore-listed real estate developer, took advantage of the positive market response to the US Federal Reserve’s decision last week to keep its bond-buying programme unchanged, selling S$750 million $596 million worth of convertible bonds.

The deal, which launched and priced on Thursday last week, came just four months after the company raised S$650 million from another CB issue. Investors did not seem to mind that the company was returning to the market...

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