CapitaCommercial Trust announced the issuance of 838,000 new units following the cancellation of bonds.

Singapore mainboard-listed office real estate investment trust CapitaCommercial Trust (CCT) (SGX:C61U) announced on 24 November that it has issued 838,504 new units in the REIT.

The units were issued following the conversion and cancellation of the SGD225 million 2.7% convertible bonds due in 2015. SGD1 million in aggregate principal amount of the bonds have been converted and cancelled due to an exercise of conversion rights by the holders.

Arising from this conversion, the new units were issued at the conversion price of SGD1.1926 per unit. This brings the total units in issue to 2,944,849,310.

According to CCT, the total principal amount of convertible bonds converted and cancelled up to the date of its announcement on 24 November stands at SGD104 million. In addition, an aggregate principal amount of SGD120,750,000 of the convertible bonds were repurchased and cancelled as announced at various preceding periods.

Accordingly, following the current conversion and cancellation, the aggregate principal amount of convertible bonds remaining outstanding is SGD250,000.

Units of CCT are currently listed on the Singapore Exchange at SGD1.70.

CapitaCommercial Trust announced the issuance of 838,000 new units following the cancellation of bonds.
CapitaCommercial Trust announced the issuance of 838,000 new units following the cancellation of bonds.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.