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CapitaCommercial wraps clean-up call for remaining 2% convertibles
By Jennifer Chiou
New York, Oct. 15 - CapitaCommercial Trust announced that there are no longer any of its 2% convertible bonds due 2013 outstanding following the Oct. 15 clean-up call redemption date.
As announced in September, remaining S$20.75 million of bonds was redeemed at a price of 109.37.
The outstanding principal amount, which represented less than 10% of the original S$370 million principal amount of the convertible bonds due 2013, was announced following settlement of the bonds tendered in the offer that ended on Sept. 6.
According to a filing with the Singapore Exchange, the company paid a cash consideration of S$22,694,275 for the then-outstanding bonds, excluding accrued interest of S$184,191.78.
HSBC Institutional Trust Services (Singapore) Ltd. acted as the trustee.
CapitaCommercial is a Singapore-based real estate investment trust focusing on Singapore commercial buildings. It originally S$370 million of the bonds.
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