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...
CapitaCommercial Trust
CapitaCommercial Trust (CCT) said it will pay 1.88 Singapore cents per unit for its fiscal fourth quarter. The distribution per unit is 38 per cent higher than a year ago, after adjusting for a rights issue last year. The commercial rental market improved over the course of 2009, resulting in higher rental income for CCT from positive rent reversions. The acquisition of Wilkie Edge office building in...
CapitaCommercial Trust (CCT) will receive a total of S$9.3 million from Capitaland Commercial Limited (CCL). The money for the year ended 31 December 2009 is the yield protection amount in relation to the property, One George Street. CCT had bought the asset from CCL and under the terms of the deal, CCL agreed to provide a yield protection to CCT if it falls below a certain amount. As the net property...
The manager of CapitaCommercial Trust said it has appointed a new head of Finance. The current Finance head, Edward Bin, is being transferred to CapitaLand Commercial to assume the role of vice president of Finance. He will be replaced at CCT by Annie Chua, who is currently the Reit's deputy head of finance. CCT said she is an experienced finance professional who's 20 years in finance and treasury...
CapitaCommercial Trust (CCT) has said its distribution per unit (DPU) for the third quarter ended in September is 1.85 cents. This is a 20.1 per cent on-year rise, with last year's DPU restated to 1.54 cents after adjusting for a rights issue. Distributable income for the third quarter came in at S$52.1 million, up about 21 per cent on-year. CCT's CEO, Lynette Leong, said the performance over the period...
Office landlord CapitaCommercial Trust (CCT) announced Wednesday a distribution per unit (DPU) of 1.71 Singapore cents in the second quarter. That was a 32.6 per cent increase over the 1.29 cents of DPU announced over the same period last year, after adjusting for its recent rights issue. Without such adjustments, the second quarter DPU would have been lower than the DPU of 2.6 cents announced a year...
CapitaCommercial Trust (CCT) said on Tuesday almost half of its leases expiring this year have been renewed. The REIT has also signed on new leases and renewals for an aggregate area of some 336,000 square feet in the first four months of 2009. Key tenants include Legg Mason, BNI, Koufu and parent company, CapitaLand. It gave the update as ratings agency Moody's upgraded its outlook. The ratings agency...
CapitaCommercial Trust, says a total of 1,901.1 million rights units in valid acceptances and excess applications were received at the close of its rights issue on June 24. This represents about 135.4% of the total number of rights units available under the rights issue. On May 22, CapitaCommercial Trust announced a fully-underwritten 1-for-1 renounceable rights issue of 1,403.9 million rights units at an...
CapitaCommercial Trust (CCT) said its rights issue was 1.35 times oversubscribed. The trust had launched a 1-for-1 renounceable rights issue of 1.4 billion rights units at 59 cents each. But applications came in for over 1.9 billion rights units. CCT launched the rights issue to raise S$828.3 million, mainly to reduce its existing borrowings. The rest of the proceeds will be used for capital...
CapitaCommercial Trust said on Thursday its S$828-million rights issue has been oversubscribed. The offer closed on Wednesday, and final results will be released soon. CapitaCommercial had launched the rights issue in May, offering one rights unit for every existing unit at 59 cents each. The proceeds from the rights issue are to be used to reduce borrowings and for general corporate and working capital...