CapitaLand, a Singapore-listed real estate developer, took advantage of the positive market response to the US Federal Reserve’s decision last week to keep its bond-buying programme unchanged, selling S$750 million $596 million worth of convertible bonds.
The deal, which launched and priced on Thursday last week, came just four months after the company raised S$650 million from another CB issue. Investors did not seem to mind that the company was returning to the market this soon, however. This was partly because there has not been much new CB issuance this year and investors are happy to see new supply, artly because, like CapitaLand’s previous transaction, the deal was...
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