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SINGAPORE : CapitaCommercial Trust is proposing to issue at least S$225 million in convertible bonds due in 2015.
The bonds are being offered to institutional investors and accredited investors.
CCT said the size of the issue may be increased by up to S$25 million within the next 30 days, thereby raising total proceeds of up to S$250 million.
Pricing is expected later, after a book-building exercise.
CCT said the proceeds will be used for general working capital, asset enhancement and refinancing existing debt.
Credit Suisse Singapore has been appointed as the sole bookrunner and lead manager.
The closing date for the issue is expected to be on or around April 21.
- CNA/al
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