CapitaCommercial Trust buys back S$27 million of 2% convertibles

By Marisa Wong

Madison, Wis., Dec. 20 - CapitaCommercial Trust's trustee, HSBC Institutional Trust Services (Singapore) Ltd., repurchased S$27 million of its 2% convertible bonds due 2013.

The bonds were purchased for a cash consideration of S$29.5 million.

Standard Chartered Bank was the agent for the transaction, which settled on Dec. 20.

Following the repurchase, the outstanding principal amount of the convertible bonds is S$146.75 million. The original principal amount of the bonds was S$370 million.

CapitaCommercial is a Singapore-based real estate investment trust focusing on Singapore commercial buildings.

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