CapitaMall Trust raises $250mn 3-yr convertible bonds

The convertible bonds bear an interest of 2.125% per annum, payable half-yearly.

According to CapitaMall Trust, the convertible bonds are due April 2014 and it have been fully placed to institutional and accredited investors.

Due to strong demand, the base offering size was increased from the $200 million announced at launch to $250 million.

The lead manager for the issue of the convertible bonds may exercise an option within 30 days from 10 March 2011 to further increase the size of the issue by up to S$100 million, to $350 million. Credit Suisse (Singapore) Limited is the sole bookrunner and sole lead manager for the issue.

The bonds are unsecured and convertible into new CMT units at a conversion price of $2.2692 per unit. The bonds bear an interest of 2.125% per annum, payable half-yearly.

Mr Simon Ho, CEO of CMTML, said, “We are encouraged by the strong response to the issue of our convertible bonds. This issue is part of CapitaMall Trust’s proactive capital management efforts, to optimise our debt structure and diversify sources of funding. The interest rate of 2.125% per annum, over three years, is attractive for such unsecured convertible bonds. The proceeds will be used to fund our on-going asset enhancements and to refinance existing borrowings.”

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia