FINANCIAL SERVICES | Staff Reporter, Singapore

CCT converts $4m of its 2.5% convertible bonds

Shareholders exercised conversion rights.

CapitaLand Commercial Trust (CCT) converted and cancelled $4m of its 2.5% convertible bonds worth $175m.

According to an announcement, this was due to an exercise of conversion rights by stockholders.

Currently, the total principal amount of bonds that have been converted and cancelled is $170.5m. The remaining outstanding bonds are worth $4.5m.

The convertible bonds are due on 12 September 2017.

Moreover, 2,804,065 new units have been issued worth $1.4 per unit. Total units in issue is at 3,090,461,263.

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