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CapitaLand Commercial Trust cancels S$7.5M of convertible bonds

CapitaLand Commercial Trust converted and canceled S$7.5 million of bonds under an issuance of S$175.0 million of 2.5% convertible notes due Sept. 12.

As of May 29, the company has converted and canceled S$17.0 million of notes, while S$158.0 million of convertible bonds remain outstanding.

CapitaLand Commercial Trust then issued 5,257,622 new units at a conversion price of S$1.4265 per unit, taking the company's total number of issued units to 2,981,924,013.

As of May 29, US$1 was equivalent to S$1.39.