CapitaLand prices debut convertible

The Singapore property company brings an aggressively priced convertible as it seeks to re-configure its balance sheet and extend its debt maturity profile.

An increased S$380 million ($208 million) five-year transaction was priced earlier than expected yesterday afternoon Asian time (Thursday) after books closed 2.25 times oversubscribed. The transaction set a number of firsts and for sole lead manager JPMorgan was a particularly important credibility enhancing exercise as the bank attempts to establish a firmer ECM footprint in Asia.

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