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.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.