CapitaLand raises S$650 million from seven-year CB

The money will be used partly to buy back some of its outstanding 2018 CBs through a tender that will take place during the next few weeks.

Singapore-listed real estate developer CapitaLand last night raised S$650 million $516 million from the sale of seven-year convertible bonds, which it will use partly to buy back part of an outstanding CB that matures in 2018.

The deal came almost two weeks after two smaller deals from Taiwan’s Asia Cement and Hong Kong-listed China Daye Non-Ferrous Metals Mining reopened the Asian CB market after two months with no issuance at all, and was no doubt aiming to tap into the improving investor demand for equities.

However, it hit the market on a busy night that saw four block trades and one other CB, a $550...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222