Singapore-listed office REIT CapitaCommercial Trust (CCT) (SGX:C61U) announced in a filing on 1 September that it has issued 1,467,382 new units in the REIT arising from the conversion of SGD1,750,000 in convertible bonds.
The bonds, with a coupon rate of 2.7% and due 2015, were converted and cancelled in an exercise of conversion rights by the respective bondholders at the conversion price of SGD1.1926 per unit.
Following this current bond conversion and cancellation, the aggregate principal amount of convertible bonds remaining outstanding as of 1 September 2014 is SGD5,250,000.
With the conversion, the total CCT units in issue now stands at 2,938,710,888 units. CCT is currently listed at SGD1.70 on the Singapore Exchange.