capitamalls-followon-prices-at-bottom

CapitaMall's follow-on prices at bottom

The retail asset-backed Reit raises $243 million to pay down debt and decides not to use an option to increase the size of the deal.
Singapore's CapitaMall Trust confirmed yesterday that it had completed the follow-on sale of new units that it launched on Monday evening, raising a total of S$352.1 million $243 million.

In a statement, the real estate investment trust that is backed by retail assets said the price had been fixed at the bottom of the offering range at S$3.63, which equals a discount of 3.2% versus MondayÆs volume-weighted average price. It also noted that the deal had been fully subscribed, but made no mention of the additional S$150 million worth of units that it had initial said it may sell ôin the event of a favourable response.ö

A source familiar with the deal clarified...
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