CapitaMall Trust sells CBs to pay for new acquisition

Singapore's largest Reit raises $478 million and achieves favourable terms by using a newly acquired property as security for the bonds.

SingaporeƆs largest real estate investment trust, CapitaMall Trust, has raised S$650 million $478 million from the sale of convertible bonds that will be used to partly finance a yield-accretive acquisition of a commercial property that was announced yesterday. The company said it will pay S$839.8 million plus expenses for the property - two Grade A office towers and some ground floor retail space - which is known as AtriumOrchard and counts Temasek, HSBC and Barclays Capital among its...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: convertible | reit | property | acquisition | goldman sachs

Print Edition

FinanceAsia Print Edition

EVENTS