CMT launches second offering of retail bonds
CAPITAMALL Trust (CMT) is issuing up to $200 million worth of seven-year retail bonds which will pay a fixed interest of 3.08 per cent per annum, the second offering under its $2.5 billion retail bond programme unveiled in February 2011.
The retail bonds, which CMT chief executive officer Wilson Tan said "will cater to investors looking for fixed income returns", will pay out its fixed interest payments on Feb 20 and Aug 20 each year from 2014 to 2021, starting from Aug 20 this year.
Up to $150 million of the retail bonds will be offered to the public, while the remaining $50 million will be offered to institutional and other investors. Should the public offer and placement be oversubscribed, CapitaMall Trust Management Ltd, as manager of CMT, may increase the total issue size to up to $350 million and determine the final allocation between the public offer and placement, CMT said.
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