CapitaLand Residential, the property unit of CapitaLand Ltd that specializes in building homes in over 17 countries, is set to tap the securitization market for the second time before the end of the year.
HypoVereinsbank has been mandated to arrange the deal, which will be around the S$200 million $112.1 million mark. The bank also handled CapitaLand's debut offering, a S$200 million issue launched in June 2001 out of the Peridot Investments special purpose vehicle.
As with the first transaction, and a S$300 million issue structured by Hypo for Keppel Land in June this year, the second deal will securitize pre-sale contracts of luxury condominiums in as yet incomplete apartment blocks....
