Singapore's CapitaLand launches $650m convertible bond-terms

Singapore's CapitaLand launches $650m convertible bond-terms

HONG KONG - CapitaLand Ltd, the biggest property developer in Southeast Asia, plans to raise up to S$650 million in convertible bonds due 2020, according to a term sheet of the deal seen by Reuters on Monday.

The bonds were launched with a coupon of 1.375 per cent to 1.875 per cent and an initial conversion price of S$4.901 to S$5.0895, according to the term sheet. The offering would total up to S$650 million, with an option to grow by an additional S$150 million.

Bank of America Merrill Lynch and Credit Suisse were hired as joint bookrunners for the offering, the terms showed.

Purchase this article for republication.

BRANDED CONTENT

SPONSORED CONTENT

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.