CapitaLand to buy back S$1.7b worth of convertible bonds

Singapore

CAPITALAND has commenced a tender to buy back S$1.69 billion worth of outstanding convertible bonds, to be funded by a proposed issuance of new convertible bonds of up to S$800 million as well as internal cash resources.

The new convertible bonds of S$650 million come with an upsize option to raise another S$150 million that shall be exercisable on or before June 30.