CapitaCommercial Trust repurchases S$49.5m worth of convertible bonds

CapitaCommercial Trust has repurchased some S$49.5 million worth of convertible bonds from an issue it had made in May 2008, which are due in 2013.

This reduces the outstanding principal amount of the bonds from the original S$370 million to S$180 million, following a series of prior buy-backs and cancellations in February and April this year.

The repurchase was funded by the net cash proceeds of a series of convertible bonds issued in March this year, due 2015.

Source : Channel NewsAsia – 9 Jun 2010

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