November 22, 2012 / 12:00 AM / 5 years ago

CapitaMall Trust to raise about $200 million via private placement

SINGAPORE (Reuters) - Singapore’s CapitaMall Trust (CMLT.SI), which owns shopping malls, said on Thursday it plans to raise S$250 million ($204 million) through a private placement.

CapitaMall Trust priced a new issue of 125 million new units at S$2.00 each, which represents a discount of 4.8 percent to its adjusted volume weighted average price of S$2.1002, it said in a statement.

    The placement will raise net proceeds of about S$245.8 million, which will be used mainly for capital expenditure and initiatives for its properties, as well as debt refinancing.

    J.P.Morgan (S.E.A.) Ltd is the lead manager and underwriter for the deal.

    Reporting by Charmian Kok; Editing by Ed Davies

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