CapitaLand office REIT issues 2.8 million new units after convertible bonds cancellation

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CapitaLand Commercial Trust announced on 5 September that SGD4 million in aggregate principal amount of its SGD175 million 2.5 % convertible bonds have been converted and cancelled.

The cancellation has come about due to an exercise of conversion rights by the holders of the convertible bonds, which are due 12 September 2017, said the Singapore-listed office REIT.

The cancellation is widely read as a sign that there is a continuously strong demand for units of the REIT.

Together with the current conversion, the REIT’s total principal amount of convertible bonds converted and cancelled up to 4 September currently stands at SGD170.5 million.

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Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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