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Publish Date : 16-Aug-2012

CapitaComemrcial Trust (CCT) has launched a tender offer for the cash repurchase of its outstanding $146.75 million of convertible bonds.

The originally $370 million issue of 2.00 per cent convertible bonds were due to mature in 2013, with a put option in 2011.

On May 6, 2011, bondholders holding $6.25 million of the bonds exercised their put option. Between February 2010 and December 2011, CCT further bought back $217 million of its bonds, leaving a remainder of $146.75 million outstanding.

CCT on Monday invited existing bondholders to tender their bonds at a minimum offer price of not less than 109.5 per cent of their bonds\' principal amounts.

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