CapitaMall Trust’s rights shares oversubscribed by 1.16 times

CapitaMall Trust said Friday its rights issue was 1.16 times oversubscribed.

Under the exercise first announced in February, the real estate investment trust offered nine rights for every 10 existing units held at S$0.82 each.

CMT plans to use a major portion of the proceeds to repay borrowings totalling S$956.2 million due this year.

The offer closed on Wednesday.

CapitaMall Trust is a unit of real estate developer CapitaLand.

Source : Channel NewsAsia – 27 Mar 2009

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