CAPITALAND COMMERCIAL TRUST
C61U.SI
CapitaLand Commercial Trust - Cancellation Of Bonds Due To Conversion
- CapitaLand Commercial Trust Management Limited, as manager of CapitaLand Commercial Trust (CCT), announced that S$21.75m in aggregate principal amount of the S$175m 2.5% convertible bonds due 12 Sep 2017 have been converted and cancelled due to an exercise of conversion rights by the holders.
- As a result of the conversion, 15.3m new units have been issued at the conversion price of S$1.4265.
- To date, the total principal amount of convertible bonds converted and cancelled is S$38.75m, with the amount remaining being S$136.25m.
- As at end 1Q17, CCT continues to enjoy a strong balance sheet with a healthy gearing of 38.1% and an average cost of debt of 2.6%. 80% of its gross borrowings are also on fixed rates, which limits the trust’s exposure to rising interest rates ahead.
- Maintain HOLD on CCT with an unchanged fair value estimate of S$1.69.
Eli Lee
OCBC Investment
|
http://www.ocbcresearch.com/
2017-06-13
OCBC Investment
SGX Stock
Analyst Report
1.69
Same
1.69
