Suntec Reit raises S$280 million from pricey CB

The issuer’s investment grade rating and blue-chip assets, as well as an outstanding convertible that matures next month, help to boost demand and allow the deal to be upsized in full.
<div style="text-align: left;">
The Suntec City office towers (AFP)</div>
<div style="text-align: left;"> The Suntec City office towers (AFP)</div>

Suntec Real Estate Investment Trust has raised S$280 million ($226 million) from a Singapore dollar-denominated convertible bond that attracted a lot of demand despite being aggressively priced. In fact, at the final terms, the fair value was actually below par.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media