Singapore's CapitaLand launches $520 mln convertible bond-terms

HONG KONG Mon May 20, 2013 5:58am EDT

HONG KONG May 20 (Reuters) - CapitaLand Ltd, the biggest property developer in Southeast Asia, plans to raise up to $520 million in convertible bonds due 2020, according to a term sheet of the deal seen by Reuters on Monday.

The bonds were launched with a coupon of 1.375 percent to 1.875 percent and an initial conversion price of S$4.901 to S$5.0895, according to the term sheet. The offering would total up to S$650 million ($520 million), with an option to grow by an additional S$150 million.

Bank of America Merrill Lynch and Credit Suisse were hired as joint bookrunners for the offering, the terms showed.