CapitaLand sees strong initial response to CB tender offer

Investors have already committed to tender almost S$604 million worth of convertible bonds, prompting the company to accelerate the offer and increase the size of its recent CB.

CapitaLand sees strong initial response to CB tender offer
CapitaLand has several CBs maturing or becoming puttable in a relatively concentrated period between 2015 and 2018.

CapitaLand has increased the size of the 10-year convertible bond that it issued earlier this month by a further S$50 million to a total of S$800 million $636 million after a strong initial response to its tender offer for three outstanding CBs.

The move suggests the Singapore-listed real estate developer expects to be able to buy back roughly that same amount of bonds.

CapitaLand earlier said the proceeds from the...

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