CapitaLand's proposed S$650m convertible bond issue fully placed
CAPITALAND on Friday announced that its proposed issue of S$650 million in principal amount of convertible bonds has been fully placed to institutional and accredited investors.
The number of new shares to be allotted and issued by the company, pursuant to the full conversion of the convertible bonds, is 130,784,708, based on the conversion price of S$4.97 and assuming no adjustments to the conversion price as well as no exercise of the upsize option.
This comes a day after the proposed issue was announced to refinance the company's existing indebtedness and for working capital.
The company has the upsize option of an additional S$150 million in principal amount of convertible bonds granted in favour of J.P. Morgan, the sole bookrunner, lead manager and underwriter for the issue of the convertible bonds, which shall be exercisable on or before June 30, 2015.
On Thursday, CapitaLand's counter had closed trading up one cent at S$3.55.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok suspends new app’s reward programme amid EU concerns
Hong Kong spot crypto ETFs to start trading next week
Cordlife substantial shareholder Nanjing Xinjiekou still mulling over offer to buy over remaining shares
Nvidia agrees to acquire Israeli AI software provider Run:ai
HSBC says growing Chinese wealth fuels client investments in US
Unilever's India quarterly profit disappoints