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CapitaLand unit to redeem S$400M of notes due 2022

CapitaLand Ltd.'s wholly owned unit will redeem S$400.0 million worth of 3.8% callable step-up bonds due 2022 on Jan. 12, 2017.

CapitaMalls Asia Treasury Ltd. plans to redeem the bonds at 100% of the principal amount, plus accrued interest. The last day of trading in the bonds on the Singapore bourse will take place Dec. 30.

The total interest payable on the bonds for the period between Jul. 12, 2016, and Jan. 12, 2017, is S$7.7 million.

As of Dec. 27, US$1 was equivalent to S$1.45.