CCT convertible

CapitaCommercial Trust prices $141 million CB

Strong demand boosts the size of CCT's five-year CB, which offers a 23% conversion premium.

CapitaCommercial Trust CCT has priced its five-year convertible bond, resulting in a 2.5% coupon and yield, and a 23% conversion premium. The final size was S$175 million $141 million, an increase from the original plan for S$150 million.

The deal drew robust demand thanks to the company’s high-quality credit about 70 investors took part and the book was multiple-times covered, a source said yesterday. They were multi-strategy and outright investors from Asia and Europe, the source noted. The deal was launched at 7.30pm and priced at 11pm in Hong Kong on Monday.

The latest CB comes about a week after Taiwan’s Cathay Financial raised $254...

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