CapitaLand will buy back S$432.5 million $345 million worth of its 3.125% convertible bond that matures in 2018 through an earlier announced tender offer, it said after the market closed on Friday.
This is slightly more than the S$425 million that the Singapore-listed real estate developer had previously indicated would be the maximum amount, which reflects the fact that the company has chosen to fix the repurchase price below the maximum price and to accept all the tenders received at or below the final price.
As per the announcement, the repurchase price has been fixed at 111.5% of the principal amount, versus an earlier announced maximum...
¬ Haymarket Media Limited. All rights reserved.
